Tungsten market keeps softening

Beijing (Asian Metal) 29 Jul 05 – The price for tungsten APT varied from RMB140,000/t to RMB170,000/t two weeks ago, and now most of suppliers quote the material at RMB130,000/t. The price had dropped, but the market is getting clear.

A Jiangxi tungsten APT smelter told Asian Metal that they have reduced their APT quote to current RMB130,000/t from RMB150,000/t earlier last week. The smelter said that they have not recieved an inquire this month yet.Asian Metal Copyright We just keep the plants runing and waiting for the market rebound.Asian Metal Copyright A sales executive said: “we give quote, but there is no business.Asian Metal Copyright “It’s really hard for us these days, the price for concentrate dropped a little, but the price for APT dropped a lot.Asian Metal Copyright We also reduced our production because of the slow market; we wouldn’t like over-stock.”

According to the source, they bought tungsten concentrate at the price a little higher than RMB80,000/t. “It’s really hard for us these days, the price for concentrate dropped a little, but the price for APT dropped a lot.Asian Metal CopyrightBeijing Asian Metal 29 Jul 05 – The price for tungsten APT varied from RMB140,000t to RMB170,000t two weeks ago, and now most of suppliers quote the material at RMB130,000t.Asian Metal Copyright On current market prices, we cannot make profit.Asian Metal Copyright”According to the source, they bought tungsten concentrate at the price a little higher than RMB80,000t.Asian Metal Copyright I believe this is the bottom price of this summer, and the market is to turn around next month.”

A senior manager of another APT smelter said: “The market is slow, there is no point to give a quote when there isn’t any buyer, but if anyone ask, I would say RMB130,000/t is a workable price.” Last week, the smelter quoted its APT at RMB160,000/t.Asian Metal CopyrightA Jiangxi tungsten APT smelter told Asian Metal that they have reduced their APT quote to current RMB130,000t from RMB150,000t earlier last week.Asian Metal Copyright

“Normally we produce around 200 tons APT a month, but now we only produce around 20-30 tons a month to keep the plants open,” said the source, “No one is running full capasity. We just keep the plants runing and waiting for the market rebound.Asian Metal Copyright “It’s really hard for us these days, the price for concentrate dropped a little, but the price for APT dropped a lot.Asian Metal Copyright I hope it will rebound by the end of next month, like everyone says.”