Chinese tungsten concentrate price increases further
2016-04-28 09:46:21 [Print]
BEIJING (Asian Metal) 28 Apr 16 - Tungsten concentrate market in China turns stalemate and sees few deals concluded because most consumers are reluctant to accept the current price and most sellers have no plan to lower offers for attracting deals. Encouraged by the national storage policy, the mainstream prices for wolframite 65%min increased further to RMB73,000-75,000/t (USD173-178/mtu), up by RMB2,000/t (USD5/mtu) from those of last week.
A producer based in Hunan who has an annual production volume of 500 tons per month offers scheelite 55%min at RMB72,000/t (USD171/mtu), up by RMB2,000/t (USD5/mtu) from those of last week, but most consumers refuse to accept the price. The source has no intention to sell their stocks as he is still optimistic about the future market. “Tungsten ore supply is tight and the price is firm at RMB1,100-1,200/mtu (USD160-174/mtu) ex works,” said the source, adding that they will not rebuild stocks when the price runs at a high level.
According to him, he has not sold anything for nearly one month, and holds 400 tons of stocks on hand. The source will not release stocks because he is not under capital turnover pressure. The plant produced 40t of scheelite 55%min in March and the output in April is expected to be the same level.
Another South China-based trader with a monthly trading volume of 100 tons disclosed that they have purchased 20 tons of wolframite 65%min at RMB73,000/t (USD173/mtu) early this week, up by RMB2,000/t (USD5/mtu) from those of last week. Many consumers sent inquiries but refused to accept the price, so the market is quiet at present. The trader intends to purchase more tungsten concentrate in the near term as they predicted that the tungsten concentrate price will continue to increase in the following days.
“We hold 200 tons of stocks on hand, and plan to watch the market in the following days,” said the source, adding that they are not in a hurry to sell stocks because hold positive attitude towards short-term market. The normal trading volume in March was less than 100t and they don’t sell any materials in April.
A producer based in Hunan who has an annual production volume of 500 tons per month offers scheelite 55%min at RMB72,000/t (USD171/mtu), up by RMB2,000/t (USD5/mtu) from those of last week, but most consumers refuse to accept the price. The source has no intention to sell their stocks as he is still optimistic about the future market. “Tungsten ore supply is tight and the price is firm at RMB1,100-1,200/mtu (USD160-174/mtu) ex works,” said the source, adding that they will not rebuild stocks when the price runs at a high level.
According to him, he has not sold anything for nearly one month, and holds 400 tons of stocks on hand. The source will not release stocks because he is not under capital turnover pressure. The plant produced 40t of scheelite 55%min in March and the output in April is expected to be the same level.
Another South China-based trader with a monthly trading volume of 100 tons disclosed that they have purchased 20 tons of wolframite 65%min at RMB73,000/t (USD173/mtu) early this week, up by RMB2,000/t (USD5/mtu) from those of last week. Many consumers sent inquiries but refused to accept the price, so the market is quiet at present. The trader intends to purchase more tungsten concentrate in the near term as they predicted that the tungsten concentrate price will continue to increase in the following days.
“We hold 200 tons of stocks on hand, and plan to watch the market in the following days,” said the source, adding that they are not in a hurry to sell stocks because hold positive attitude towards short-term market. The normal trading volume in March was less than 100t and they don’t sell any materials in April.
Tungsten Ore WO3 50%min FOB Africa
Unit:USD/mtu
China tungsten concentrate producers' suspension number statistics by province by month
Unit: pcs
