Chinese tungsten concentrate prices edge down
2023-03-17 11:57:26 [Print]
BEIJING (Asian Metal) 17 Mar 23 - Prices for tungsten concentrate edged down this week largely driven by the weak demand from end markets. In addition, as the spot supply for concentrate slightly increased, suppliers became more active in quoting, but downstream consumers took a wait-and-see attitude due to a bearish sentiment. Current mainstream prices for Chinese tungsten concentrate WO3 65%min stand at RMB116,000-118,000/t (USD16,831-17,121/t) delivered D/P, down roughly by RMB1,000/t (USD145/t) from late last week. Given the slack spot market and a slight concession from supplier to promote sales, insiders believe that prices for Chinese tungsten concentrate would remain soft on the whole in the coming week.
A trader in South China said, "We don't quote tungsten concentrate at the moment as the transaction price will be finalized based on our clients' intention to purchase. Most consumers of tungsten concentrate WO3 55%min prefer to buy at prices lower than RMB115,000/t (USD16,685/t) this week, but we refuse to sell as our inventory is relatively high at the moment. For regular clients, we could accept RMB115,000/t (USD16,685/t). We last sold about 30t at RMB116,000/t (USD16,831/t) late last week." The trader explained that as prices dropped frequently, there was a stronger wait-and-see sentiment among market participants, so market movements slowed down. Meanwhile, some tungsten concentrate suppliers have intention to sell this week when they send enquiries more actively. The most competitive offer they got this week for tungsten concentrate WO3 55%min stands at RMB114,500/t (USD16,613/t). However, as the price stays relatively soft, they didn't purchase the material at last. In light of the slack spot market, they believe that prices for Chinese tungsten concentrate would remain flat on the whole in the coming week.
With a regular monthly trade volume of 300t of tungsten concentrate, they expect to sell around 200t in March, on par with last month. They sold about 2,000t in total last year and now hold inventory of around 100t, the same as one month earlier.
Another trader in South China said, "We now quote tungsten concentrate WO3 55%min at RMB116,000/t (USD16,868/t) delivered D/P and would accept RMB115,000/t (USD16,723/t) form firm orders. We didn't close any deals this week as most consumers prefer to wait and see, leading to an inactive market. We just sold about 30t at RMB116,000/t (USD16,868/t) last week". The trader added that, given the overall soft price, consumers just keep purchasing from hand to mouth, with limited enquiries seen on the market. They expect to sell about 100t of tungsten concentrate in March, down from about 200t in February. Given the increasing supply of tungsten concentrate but the sluggish downstream demand, they believe that prices for Chinese tungsten concentrate would move down further in the coming week.
With a regular monthly trade volume of 200t of tungsten concentrate, they expect to sell around 100t in March, down from around 200t in February. They sold about 2,000t in total last year and now hold nearly 200t of stocks, on par with a month ago.
A trader in South China said, "We don't quote tungsten concentrate at the moment as the transaction price will be finalized based on our clients' intention to purchase. Most consumers of tungsten concentrate WO3 55%min prefer to buy at prices lower than RMB115,000/t (USD16,685/t) this week, but we refuse to sell as our inventory is relatively high at the moment. For regular clients, we could accept RMB115,000/t (USD16,685/t). We last sold about 30t at RMB116,000/t (USD16,831/t) late last week." The trader explained that as prices dropped frequently, there was a stronger wait-and-see sentiment among market participants, so market movements slowed down. Meanwhile, some tungsten concentrate suppliers have intention to sell this week when they send enquiries more actively. The most competitive offer they got this week for tungsten concentrate WO3 55%min stands at RMB114,500/t (USD16,613/t). However, as the price stays relatively soft, they didn't purchase the material at last. In light of the slack spot market, they believe that prices for Chinese tungsten concentrate would remain flat on the whole in the coming week.
With a regular monthly trade volume of 300t of tungsten concentrate, they expect to sell around 200t in March, on par with last month. They sold about 2,000t in total last year and now hold inventory of around 100t, the same as one month earlier.
Another trader in South China said, "We now quote tungsten concentrate WO3 55%min at RMB116,000/t (USD16,868/t) delivered D/P and would accept RMB115,000/t (USD16,723/t) form firm orders. We didn't close any deals this week as most consumers prefer to wait and see, leading to an inactive market. We just sold about 30t at RMB116,000/t (USD16,868/t) last week". The trader added that, given the overall soft price, consumers just keep purchasing from hand to mouth, with limited enquiries seen on the market. They expect to sell about 100t of tungsten concentrate in March, down from about 200t in February. Given the increasing supply of tungsten concentrate but the sluggish downstream demand, they believe that prices for Chinese tungsten concentrate would move down further in the coming week.
With a regular monthly trade volume of 200t of tungsten concentrate, they expect to sell around 100t in March, down from around 200t in February. They sold about 2,000t in total last year and now hold nearly 200t of stocks, on par with a month ago.
