Tungsten Market Report August 2013
2013-09-11 08:52:17 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
Please contact us for a subscription.
Please contact us for a subscription.
China Minmetals stopped purchasing tungsten concentrate and APT from the middle of July. Most of the market participants watched the market for a while. They expected China Minmetals to go back to the market and to push up prices further. China Minmetals published the tungsten concentrate price in August, and it was RMB160,000/t (USD403/mtu) for wolframite 65%, which increased by around RMB5,000/t (USD12.6/mtu) compared with that of last month. Although the offers increased, China Minmetals did not make any deals in the spot market. Moreover, many market participants held pessimistic attitudes towards the future market, and the tungsten market moved down gradually in August. Tungsten prices decreased continuously. Furthermore, most of the overseas customers left the market for summer vacations during August, meaning the Chinese tungsten export market held quiet. In late August, many overseas customers came back to the market, but the Chinese tungsten market continued to weaken. Therefore, the customers were cautious in making deals with watching attitudes, and the export market showed no improvements.
