Chinese ferrotungsten prices edge up
2023-04-27 12:01:52 [Print]
BEIJING (Asian Metal) 27 Apr 23 - Ferrotungsten suppliers raised offers this week driven up by the increasing price of tungsten concentrate, while downstream consumers remained inactive in purchasing amid a strong wait-and-see sentiment. Current mainstream prices for Chinese ferrotungsten 75%min stand at RMB182,000-183,000/reference ton (USD26,298-26,442/reference ton) delivered D/P, up roughly by RMB2,000/reference ton (USD289/reference ton) from late last week. Given the firm price of raw material, insiders believe that prices for Chinese ferrotungsten 75%min would stay unchanged in the coming week.
A producer in South China said, "We marked up the offer for ferrotungsten 75%min to RMB183,000/reference ton (USD26,442/reference ton) delivered D/P this week and we would accept RMB182,000/reference ton (USD26,298/reference ton) for firm orders from regular clients. We sold about 30t at RMB182,000/reference ton (USD26,298/reference ton) just yesterday, while we sold around 20t at RMB180,000/reference ton (USD26,009/reference ton) late last week". The producer said that tungsten concentrate suppliers prefer to lift offers this week and the price for tungsten concentrate WO3 65%min already rose by RMB2,000/t (USD289/t) from late last week to RMB122,000/t (USD17,628/t) delivered D/P, with some suppliers even refusing to offer. Tungsten concentrate suppliers insisted on holding back from selling this week when the supply remains tight, so the producer believes that prices for Chinese ferrotungsten 75%min would move up in the coming week.
With an annual production capacity of 5,000t of ferrotungsten 75%min, they produced about 3,000t in 2022 and around 600t in 2023 to date, expecting to produce about 300t in April, on par with last month. They now hold inventory of around 240t, up from about 100t one month ago.
Another producer in South China said, "We now quote ferrotungsten 75%min at RMB182,000/reference ton (USD26,298/reference ton) delivered D/P with no concession even for firm orders, as our purchase cost is already close to RMB182,000/reference ton (USD26,298/reference ton). There was no deal closed today while we sold about 40t at RMB180,000/reference ton (USD26,009/reference ton) early this week". The producer added that their supplier of tungsten concentrate insists on holding back from selling this week and prefers to firm their offer for tungsten concentrate WO3 65%min at RMB122,000/t (USD17,628/t) delivered D/P, and they find it rather difficult to source the material at such price. Given the rising price of raw material, the producer expects prices for Chinese ferrotungsten 75%min to stay firm in the following week.
With an annual production capacity of 5,000t of ferrotungsten 75%min, they produced about 1,500t in 2022 and around 400t this year to date, expecting about 400t in April, against no output last month. They now hold inventory of around 200t, the same as one month earlier.
A producer in South China said, "We marked up the offer for ferrotungsten 75%min to RMB183,000/reference ton (USD26,442/reference ton) delivered D/P this week and we would accept RMB182,000/reference ton (USD26,298/reference ton) for firm orders from regular clients. We sold about 30t at RMB182,000/reference ton (USD26,298/reference ton) just yesterday, while we sold around 20t at RMB180,000/reference ton (USD26,009/reference ton) late last week". The producer said that tungsten concentrate suppliers prefer to lift offers this week and the price for tungsten concentrate WO3 65%min already rose by RMB2,000/t (USD289/t) from late last week to RMB122,000/t (USD17,628/t) delivered D/P, with some suppliers even refusing to offer. Tungsten concentrate suppliers insisted on holding back from selling this week when the supply remains tight, so the producer believes that prices for Chinese ferrotungsten 75%min would move up in the coming week.
With an annual production capacity of 5,000t of ferrotungsten 75%min, they produced about 3,000t in 2022 and around 600t in 2023 to date, expecting to produce about 300t in April, on par with last month. They now hold inventory of around 240t, up from about 100t one month ago.
Another producer in South China said, "We now quote ferrotungsten 75%min at RMB182,000/reference ton (USD26,298/reference ton) delivered D/P with no concession even for firm orders, as our purchase cost is already close to RMB182,000/reference ton (USD26,298/reference ton). There was no deal closed today while we sold about 40t at RMB180,000/reference ton (USD26,009/reference ton) early this week". The producer added that their supplier of tungsten concentrate insists on holding back from selling this week and prefers to firm their offer for tungsten concentrate WO3 65%min at RMB122,000/t (USD17,628/t) delivered D/P, and they find it rather difficult to source the material at such price. Given the rising price of raw material, the producer expects prices for Chinese ferrotungsten 75%min to stay firm in the following week.
With an annual production capacity of 5,000t of ferrotungsten 75%min, they produced about 1,500t in 2022 and around 400t this year to date, expecting about 400t in April, against no output last month. They now hold inventory of around 200t, the same as one month earlier.
