Chinese sodium tungstate prices up slightly
2023-04-28 11:55:48 [Print]
BEIJING (Asian Metal) 28 Apr 23 - Supported by the increase of raw material prices, Chinese sodium tungstate suppliers raise their prices this week, but downstream consumers only wait on the sidelines restricted by soft demand. Mainstream prices of Chinese sodium tungstate WO3 68%min stand at RMB138,000-140,000/t (USD19,941-20,230/t) delivered D/P currently, slightly up by about RMB1,000/t (USD145/t) from late last week. Due to soft demand in the terminal market caused by the fact that end users are inactive in refilling stocks, insiders predict that mainstream prices of Chinese sodium tungstate WO3 68%min would stabilize in the coming week.
A producer in South China said, "We now quote RMB140,000/t (USD20,230/t) delivered D/P for sodium tungstate WO3 68%min and temporarily refuse to accept any lower prices, but with no deals concluded so far this week as downstream consumers only wait on the sidelines. We last sold about 5t of the material at RMB138,000/t (USD19,941/t) delivered D/P last week." The producer also disclosed that raw material prices keep firm at present, adding that the tungsten grinding swarf scrap price they received this week rises to RMB2,020/mtu (USD292/t), but they once purchased 20t of the raw material at RMB1,970/mtu (USD285/mtu) last week. According to the producer, the domestic sodium tungstate market sees inactive purchases currently as most clients just refill stocks based on orders against the backdrop of soft demand in the terminal market on the whole. Given the lack of demand in the terminal market, the producer predicts that mainstream prices of Chinese sodium tungstate WO3 68%min would stay steady in the coming week.
With an annual production capacity of 500t of sodium tungstate WO3 68%min, the producer produced about 200t of the material in total in 2022 and about 80t by now in 2023, expecting to produce about 20t this month, stable MOM. They hold no spot stocks at the moment, unchanged MOM.
Another producer in South China said, "We now quote RMB139,000/t (USD20.086/t) delivered D/P for sodium tungstate WO3 68%min and temporarily refuse to accept any lower prices owing to substantial increase of raw material prices, but it's hard for us to conclude deals at this price. We last sold about 5t of the material at RMB137,000/t (USD19,797/t) early this week." According to the producer, domestic sodium tungstate suppliers keep their quotations firm this week owing to sharp increase of raw material prices, but demand in the terminal market stays soft on the whole. The producer further mentioned that most of their consumers intend to wait on the sidelines this week and have no intention to accept any prices higher than RMB139,000/t (USD20,086/t). Considering firm raw material prices but soft demand in the market, the producer expects that mainstream prices of Chinese sodium tungstate WO3 68%min would remain stable in the coming week.
With an annual production capacity of 500t of sodium tungstate WO3 68%min, the producer produced about 220t of the material in total in 2022 and about 90t by now in 2023, expecting to produce about 25t this month, stable MOM. They hold no spot stocks at the moment, unchanged MOM.
A producer in South China said, "We now quote RMB140,000/t (USD20,230/t) delivered D/P for sodium tungstate WO3 68%min and temporarily refuse to accept any lower prices, but with no deals concluded so far this week as downstream consumers only wait on the sidelines. We last sold about 5t of the material at RMB138,000/t (USD19,941/t) delivered D/P last week." The producer also disclosed that raw material prices keep firm at present, adding that the tungsten grinding swarf scrap price they received this week rises to RMB2,020/mtu (USD292/t), but they once purchased 20t of the raw material at RMB1,970/mtu (USD285/mtu) last week. According to the producer, the domestic sodium tungstate market sees inactive purchases currently as most clients just refill stocks based on orders against the backdrop of soft demand in the terminal market on the whole. Given the lack of demand in the terminal market, the producer predicts that mainstream prices of Chinese sodium tungstate WO3 68%min would stay steady in the coming week.
With an annual production capacity of 500t of sodium tungstate WO3 68%min, the producer produced about 200t of the material in total in 2022 and about 80t by now in 2023, expecting to produce about 20t this month, stable MOM. They hold no spot stocks at the moment, unchanged MOM.
Another producer in South China said, "We now quote RMB139,000/t (USD20.086/t) delivered D/P for sodium tungstate WO3 68%min and temporarily refuse to accept any lower prices owing to substantial increase of raw material prices, but it's hard for us to conclude deals at this price. We last sold about 5t of the material at RMB137,000/t (USD19,797/t) early this week." According to the producer, domestic sodium tungstate suppliers keep their quotations firm this week owing to sharp increase of raw material prices, but demand in the terminal market stays soft on the whole. The producer further mentioned that most of their consumers intend to wait on the sidelines this week and have no intention to accept any prices higher than RMB139,000/t (USD20,086/t). Considering firm raw material prices but soft demand in the market, the producer expects that mainstream prices of Chinese sodium tungstate WO3 68%min would remain stable in the coming week.
With an annual production capacity of 500t of sodium tungstate WO3 68%min, the producer produced about 220t of the material in total in 2022 and about 90t by now in 2023, expecting to produce about 25t this month, stable MOM. They hold no spot stocks at the moment, unchanged MOM.
