Chinese market sees slightly dropping tungsten concentrate prices
2023-03-23 11:55:59 [Print]
BEIJING (Asian Metal) 23 Mar 23 - Owing to weak demand, downstream plants refuse to purchase raw material at high prices, so the tungsten concentrate market sees limited deals and consumers make only hand-to-mouth purchases. Current mainstream prices for Chinese tungsten concentrate WO3 65%min stand at RMB115,000-116,000/t (USD16,814-16,959/t) delivered D/P, down roughly by RMB1,000/t (USD146/t) from early this week. Given inactive end demand, insiders believe that prices for Chinese tungsten concentrate WO3 65%min would remain soft on the whole in the coming week.
A trader in South China said, "We quote tungsten concentrate WO3 55%min at RMB115,000/t (USD16,814/t) delivered D/P now and can sell at RMB114,500/t (USD16,740/t) to regular clients with real intention to buy. But so far this week we made no sales yet. Last week we refused to sell at below RMB115,000/t (USD16,814/t). We last sold around 140t at RMB116,000/t (USD16,959/t) early last week." According to the trader, the current market sees inactive deals as a result of weak demand. Today some downstream consumers even offer target prices of RMB114,000/t (USD16,667/t), and strong watchful sentiments spread on the market. Given weak end demand, the trader believes that prices for Chinese tungsten concentrate would show a generally downward trend in the coming week.
With a regular monthly trade volume of 500t of tungsten concentrate, the trader expects to sell around 500t in March, on par with last month. He sold about 4,000t in total last year and now holds inventory of around 200t, compared with 400t in the same period of last month.
Another trader in South China said, "So far this week we made no tungsten concentrate sales yet as most consumers prefer to wait on the sidelines with bearish sentiments. If there are regular clients sending enquiries, we can sell at RMB114,500/t (USD16,740/t). But downstream consumers are inactive in buying. We last sold around 64t at RMB116,000/t (USD16,959/t) one week ago." According to the trader, now downstream consumers show low interest in making purchases on the whole and prefer to make only hand-to-mouth purchases as a result of weak demand. This week the trader received an enquiry from a client who finally decided to wait on the sidelines as a result of his bearish expectations. In consideration of inactive deals and weak end demand, the trader believes that prices for Chinese tungsten concentrate WO3 65%min might move down in the coming week.
With a regular monthly trade volume of 400t of tungsten concentrate, the trader expects to sell around 300t in March, on par with last month. He sold about 3,000t in total last year and now holds inventory of around 100t, compared with 500t in the same period of last month.
A trader in South China said, "We quote tungsten concentrate WO3 55%min at RMB115,000/t (USD16,814/t) delivered D/P now and can sell at RMB114,500/t (USD16,740/t) to regular clients with real intention to buy. But so far this week we made no sales yet. Last week we refused to sell at below RMB115,000/t (USD16,814/t). We last sold around 140t at RMB116,000/t (USD16,959/t) early last week." According to the trader, the current market sees inactive deals as a result of weak demand. Today some downstream consumers even offer target prices of RMB114,000/t (USD16,667/t), and strong watchful sentiments spread on the market. Given weak end demand, the trader believes that prices for Chinese tungsten concentrate would show a generally downward trend in the coming week.
With a regular monthly trade volume of 500t of tungsten concentrate, the trader expects to sell around 500t in March, on par with last month. He sold about 4,000t in total last year and now holds inventory of around 200t, compared with 400t in the same period of last month.
Another trader in South China said, "So far this week we made no tungsten concentrate sales yet as most consumers prefer to wait on the sidelines with bearish sentiments. If there are regular clients sending enquiries, we can sell at RMB114,500/t (USD16,740/t). But downstream consumers are inactive in buying. We last sold around 64t at RMB116,000/t (USD16,959/t) one week ago." According to the trader, now downstream consumers show low interest in making purchases on the whole and prefer to make only hand-to-mouth purchases as a result of weak demand. This week the trader received an enquiry from a client who finally decided to wait on the sidelines as a result of his bearish expectations. In consideration of inactive deals and weak end demand, the trader believes that prices for Chinese tungsten concentrate WO3 65%min might move down in the coming week.
With a regular monthly trade volume of 400t of tungsten concentrate, the trader expects to sell around 300t in March, on par with last month. He sold about 3,000t in total last year and now holds inventory of around 100t, compared with 500t in the same period of last month.
