Tungsten concentrate prices continue dropping
2005-06-13 09:09:04 【Print】
BEIJING (Asian Metal) 13 Jun 05 – Tungsten smelters report that tungsten prices have dropped again from RMB128,000/t.
“Last week, we purchased 40t of tungsten concentrate for RMB122,000/t [USD1,4743/t],” a senior official from a major tungsten acid smelter told Asian Metal. “That’s down 5,000/t, compared to RMB128,000/t a week ago.”
According to the source, the smelter doesn’t want to purchase tungsten concentrate in large quantities.
“The current market is unsteady, so we’re watching how the market develops,” said the source.
With a production capacity of 200tpm of tungsten acid, the smelter’s current monthly output is around 100t.
The source thinks that tungsten concentrate prices will continue to slip slightly. “Today, a tungsten concentrate smelter even quoted RMB118,000/t,” the official said.
The smelter is now carrying out contracts signed ten days ago for USD305/mtu.
A sales manager from a major ferrotungsten smelter said, “As far as we know, current concluded tungsten prices are around RMB120,000/t.”
The smelter’s production capacity is around 5,000tpy, according to the source.
The smelter just concluded a deal for USD34.5/kg W with a quantity of two containers. “Domestically, we concluded a 15t deal for RMB200,000/t,” said the manager.
The source added that foreign buyers enquire less now than before. "Usually, we export around 300t per month, but now, the quantities have obviously reduced," said the source.
However, an official from a major cemented carbide smelter said that tungsten concentrate prices didn’t drop. “Tungsten prices are still around RMB128,000/t.”
The source believes that tungsten concentrate prices are unlikely to slide much.
