Chinese tungsten concentrate suppliers intend to hold back from selling
2023-04-13 11:54:43 [Print]
BEIJING (Asian Metal) 13 Apr 23 - Chinese tungsten concentrate suppliers have been increasingly willing to hold back from selling since early this week, so it's hard to purchase the material in the market. Mainstream prices of Chinese tungsten concentrate WO3 65%min keep firm at RMB114,000-116,000/t (USD16,585-16,876/t) delivered D/P at present, unchanged from late last week. As suppliers have strong intention to keep their prices firm and downstream consumers intend to refill stocks in small volumes, insiders predict that mainstream prices of Chinese tungsten concentrate would edge up in the coming week.
A trader in South China said, "We now temporarily make no offers for tungsten concentrate. We received an enquiry in the earlier period of this week from a client who planned to purchase 30t of tungsten concentrate 50%min at RMB114,000/t (USD16,583/t), but we refused to sell. In view of tight spot supply and firm prices in the market, we don't have any sales plans at present and will only accept the prices higher than RMB115,000/t (USD16,728/t) even if we plan to sell." They still accepted the price of RMB114,000/t (USD16,583/t) delivered D/P last week, but they didn't conclude any deals then as consumers intended to refill stocks at RMB113,000/t (USD16,437/t). The trader last sold about 100t of the material at RMB116,000/t (USD16,874/t) one week ago. Given insufficient spot supply and firm prices in the market, they predict that mainstream prices of Chinese tungsten concentrate would go up slightly in the coming week.
With a typical monthly trade volume of 400t of tungsten concentrate, the trader expects to sell around 300t of the material this month, stable MOM. They totally sold about 3,000t of the material in 2022. They now hold about 200t of stocks, basically in line with the same period of last month.
Another trader in South China said, "We mainly implement long-term orders currently, but it's hard for us to purchase tungsten concentrate this week against the backdrop that most suppliers already stopped making quotations. We purchased 100t of the material at about RMB113,500/t (USD16,510/t) yesterday, but have difficulties in refilling stocks at any prices lower than RMB114,000/t (USD16,583/t) today." According to the trader, due to tight supply in the market, most tungsten concentrate suppliers keep their quotations firm this week and are more inclined to hold back from selling. The trader received several enquiries by now this week but with no intention to conclude deals owing to the fluctuation of prices. Given tight supply in the spot market and limited stocks, the trader expects that mainstream prices of Chinese tungsten concentrate would rebound slightly in the coming week.
With a regular monthly trade volume of 1,000t of tungsten concentrate, the trader expects to sell about 800t of the material in April, steady MOM. They totally sold about 9,500t of the material in 2022 with about 400t of stocks at the moment, basically unchanged MOM.
A trader in South China said, "We now temporarily make no offers for tungsten concentrate. We received an enquiry in the earlier period of this week from a client who planned to purchase 30t of tungsten concentrate 50%min at RMB114,000/t (USD16,583/t), but we refused to sell. In view of tight spot supply and firm prices in the market, we don't have any sales plans at present and will only accept the prices higher than RMB115,000/t (USD16,728/t) even if we plan to sell." They still accepted the price of RMB114,000/t (USD16,583/t) delivered D/P last week, but they didn't conclude any deals then as consumers intended to refill stocks at RMB113,000/t (USD16,437/t). The trader last sold about 100t of the material at RMB116,000/t (USD16,874/t) one week ago. Given insufficient spot supply and firm prices in the market, they predict that mainstream prices of Chinese tungsten concentrate would go up slightly in the coming week.
With a typical monthly trade volume of 400t of tungsten concentrate, the trader expects to sell around 300t of the material this month, stable MOM. They totally sold about 3,000t of the material in 2022. They now hold about 200t of stocks, basically in line with the same period of last month.
Another trader in South China said, "We mainly implement long-term orders currently, but it's hard for us to purchase tungsten concentrate this week against the backdrop that most suppliers already stopped making quotations. We purchased 100t of the material at about RMB113,500/t (USD16,510/t) yesterday, but have difficulties in refilling stocks at any prices lower than RMB114,000/t (USD16,583/t) today." According to the trader, due to tight supply in the market, most tungsten concentrate suppliers keep their quotations firm this week and are more inclined to hold back from selling. The trader received several enquiries by now this week but with no intention to conclude deals owing to the fluctuation of prices. Given tight supply in the spot market and limited stocks, the trader expects that mainstream prices of Chinese tungsten concentrate would rebound slightly in the coming week.
With a regular monthly trade volume of 1,000t of tungsten concentrate, the trader expects to sell about 800t of the material in April, steady MOM. They totally sold about 9,500t of the material in 2022 with about 400t of stocks at the moment, basically unchanged MOM.
