Chinese tungsten concentrate prices edge up
2023-04-23 12:01:10 [Print]
BEIJING (Asian Metal) 23 Apr 23 - As downstream consumers purchase actively now while some areas are under environmental inspections, the supply of tungsten concentrate keeps relatively tight in China and suppliers insist on holding back from selling. Current mainstream prices for Chinese tungsten concentrate WO3 65%min stand at RMB116,500-118,500/t (USD16,900-17,190/t) delivered D/P, up by nearly RMB1,000/t (USD145/t) from early this week. Given the limited supply in the spot market and the strong intention to firm offers from suppliers, insiders believe that prices for Chinese tungsten concentrate WO365%min would rise further in the coming week.
A trader in South China said, "We give no offer for tungsten concentrate WO3 55%min at the moment and for firm orders, and we intend to quote RMB117,500/t (USD17,045/t) delivered D/P and would reject any lower prices. We last sold about 100t to a regular client at RMB117,000/t (USD16,973/t) early this week". The trader disclosed that they received at least three enquiries this week and downstream APT88.55%min plants send enquiries actively but most of them prefer to purchase at RMB117,000/t (USD16,973/t) and even lower prices. Given the limited stocks in the spot market, the trader expects prices to rise further and has no intention to sell at any lower prices. Considering active enquiries from downstream APT88.5%min plants, coupled with the limited supply of raw material, the trader believes that prices for Chinese tungsten concentrate WO3 65%min would edge up further in the coming week.
With a regular monthly sales of around 400t of WO3 55%min, they expect to sell around 350t in April, the same as March. They sold nearly 3,500t in total last year and around 1,300t this year to date, holding inventory of around 200t now, on par with a month ago.
"We are replenishing stocks of tungsten concentrate WO3 55%min with no plan to sell for the moment due to the limited supply in the spot market. We purchased 100t of tungsten concentrate WO3 55%min at RMB116,500/t (USD16,900/t) just early this week, but we contacted the supplier yesterday and he refused to sell the such price", said another trader in South China, adding that they will go to Inner Mongolia tomorrow to negotiate a deal for 64t of tungsten concentrate WO3 55%min and they expect the supplier to offer RMB117,500/t (USD17,045/t). They purchased less than 200t of tungsten concentrate over the past two weeks as suppliers insisted on holding back from selling, which led to firm prices in the spot market. The trader believes that prices for Chinese tungsten concentrate WO3 55%min would move up further in the coming week.
Based on a regular monthly sales volume of around 300t of tungsten concentrate WO3 55%min, they expect to sell around 300t in April, on par with last month. They sold about 3,000t in total last year and around 1,000t so far this year. They now hold inventory of around 400t, against about 200t a month ago.
A trader in South China said, "We give no offer for tungsten concentrate WO3 55%min at the moment and for firm orders, and we intend to quote RMB117,500/t (USD17,045/t) delivered D/P and would reject any lower prices. We last sold about 100t to a regular client at RMB117,000/t (USD16,973/t) early this week". The trader disclosed that they received at least three enquiries this week and downstream APT88.55%min plants send enquiries actively but most of them prefer to purchase at RMB117,000/t (USD16,973/t) and even lower prices. Given the limited stocks in the spot market, the trader expects prices to rise further and has no intention to sell at any lower prices. Considering active enquiries from downstream APT88.5%min plants, coupled with the limited supply of raw material, the trader believes that prices for Chinese tungsten concentrate WO3 65%min would edge up further in the coming week.
With a regular monthly sales of around 400t of WO3 55%min, they expect to sell around 350t in April, the same as March. They sold nearly 3,500t in total last year and around 1,300t this year to date, holding inventory of around 200t now, on par with a month ago.
"We are replenishing stocks of tungsten concentrate WO3 55%min with no plan to sell for the moment due to the limited supply in the spot market. We purchased 100t of tungsten concentrate WO3 55%min at RMB116,500/t (USD16,900/t) just early this week, but we contacted the supplier yesterday and he refused to sell the such price", said another trader in South China, adding that they will go to Inner Mongolia tomorrow to negotiate a deal for 64t of tungsten concentrate WO3 55%min and they expect the supplier to offer RMB117,500/t (USD17,045/t). They purchased less than 200t of tungsten concentrate over the past two weeks as suppliers insisted on holding back from selling, which led to firm prices in the spot market. The trader believes that prices for Chinese tungsten concentrate WO3 55%min would move up further in the coming week.
Based on a regular monthly sales volume of around 300t of tungsten concentrate WO3 55%min, they expect to sell around 300t in April, on par with last month. They sold about 3,000t in total last year and around 1,000t so far this year. They now hold inventory of around 400t, against about 200t a month ago.
