Chinese tungsten scrap drill prices move down
2023-03-17 11:52:51 [Print]
BEIJING (Asian Metal) 17 Mar 23 - Due to the weak demand from the end market, prices for tungsten scrap drill edged down and the market witnessed strong wait-and-see sentiment since early March. At present, mainstream prices for Chinese tungsten scrap drill 70%min decrease to RMB185-188/kg (USD26
A trader in southern China revealed, "At present, prices for tungsten scrap drill 70%min show a downward trend on the whole, as the price of raw material declines and the demand from the end market keeps weak. This week, we offer RMB185/kg (USD26.87/kg) delivered D/P for tungsten scrap drill 70%min and refuse any counteroffers . However, all customers have no intention to purchase. We last sold 10t at RMB188/kg (USD27.31/kg) last week and sold 4t at RMB194/kg (USD28.18/kg) in early March." The trader added that as the price of tungsten concentrate falls slightly, the price of tungsten concentrate WO3 55%min already drops to around RMB115,000/t (USD16,703/t) this week, down by about RMB3,000/t (USD436/t) from early March . The market sees inactive trading activities and the turnover in the tungsten scrap market slows down . In light of the inactive market and the weak demand from the end market, the trader predicts that prices for Chinese tungsten scrap drill 70%min would soften in the coming week.
With a regular monthly sales volume of 20t of tungsten scrap drill 70%min, the trader expects to sell about 15t in March, compared with about 20t in February. They sold a total of about 200t of tungsten scrap drill 70%min in 2022 and hold about 10t of stocks now, basically the same as last month.
Another trader in southern China said, "At present, we offer RMB190/kg (USD27.60/kg) delivered D/P for tungsten scrap drill 70%min and could consider RMB188/kg (USD27.31/kg) for firm bids from regular customers. However, the market sees few deals this week and we last sold about 10t at RMB197/kg (USD28.61/kg) in early March . " The trader indicated that the price of tungsten scrap drill keeps soft as the production cost declines slightly and the demand from the end market remains weak . The trader added that the market is filled of strong wait-and-see sentiment and most consumers wait and see the market. They revealed that their customers are reluctant to purchase even the price is as low as RMB185/kg (USD26.87/kg) . Considering that the demand keeps weak, the trader anticipates that prices for Chinese tungsten scrap drill 70%min would fall slightly further in the following week.
With a regular monthly sales volume of 30t, the trader expects to sell about 20t in March, down from about 25t in February. Their sales of tungsten scrap drill 70%min totaled about 300t in 2022 . They hold about 20t of stocks now, unchanged from the previous month.
. 87-27.31/kg) delivered D/P, down by about RMB9/kg (USD1.31/kg) from early March . In light of the inactive dealing activities, most consumers hold wait-and-see attitude and insiders reckon that prices for Chinese tungsten scrap drill 70%min would keep soft in the coming week.
A trader in southern China revealed, "At present, prices for tungsten scrap drill 70%min show a downward trend on the whole, as the price of raw material declines and the demand from the end market keeps weak. This week, we offer RMB185/kg (USD26.87/kg) delivered D/P for tungsten scrap drill 70%min and refuse any counteroffers . However, all customers have no intention to purchase. We last sold 10t at RMB188/kg (USD27.31/kg) last week and sold 4t at RMB194/kg (USD28.18/kg) in early March." The trader added that as the price of tungsten concentrate falls slightly, the price of tungsten concentrate WO3 55%min already drops to around RMB115,000/t (USD16,703/t) this week, down by about RMB3,000/t (USD436/t) from early March . The market sees inactive trading activities and the turnover in the tungsten scrap market slows down . In light of the inactive market and the weak demand from the end market, the trader predicts that prices for Chinese tungsten scrap drill 70%min would soften in the coming week.
With a regular monthly sales volume of 20t of tungsten scrap drill 70%min, the trader expects to sell about 15t in March, compared with about 20t in February. They sold a total of about 200t of tungsten scrap drill 70%min in 2022 and hold about 10t of stocks now, basically the same as last month.
Another trader in southern China said, "At present, we offer RMB190/kg (USD27.60/kg) delivered D/P for tungsten scrap drill 70%min and could consider RMB188/kg (USD27.31/kg) for firm bids from regular customers. However, the market sees few deals this week and we last sold about 10t at RMB197/kg (USD28.61/kg) in early March . " The trader indicated that the price of tungsten scrap drill keeps soft as the production cost declines slightly and the demand from the end market remains weak . The trader added that the market is filled of strong wait-and-see sentiment and most consumers wait and see the market. They revealed that their customers are reluctant to purchase even the price is as low as RMB185/kg (USD26.87/kg) . Considering that the demand keeps weak, the trader anticipates that prices for Chinese tungsten scrap drill 70%min would fall slightly further in the following week.
With a regular monthly sales volume of 30t, the trader expects to sell about 20t in March, down from about 25t in February. Their sales of tungsten scrap drill 70%min totaled about 300t in 2022 . They hold about 20t of stocks now, unchanged from the previous month.