Chinese tungsten concentrate prices up slightly
2024-03-06 08:39:57 [Print]
BEIJING (Asian Metal) 6 Mar 24 - Driven by tight supply of tungsten concentrate, most suppliers hold low intention to sell now. Currently, the mainstream prices of Chinese tungsten concentrate WO3 55%min increased to RMB124,000-125,000/t (USD17,224-17,363/t) delivered D/P, up by RMB500/t (USD69/t) from last week. Considering that most suppliers hold high intention to raise their prices further due to so tight supply, insiders predict that the mainstream prices of Chinese tungsten concentrate WO3 55%min would increase slightly in the coming week.
A trader in Jiangxi disclosed that they offered about RMB125,000/t (USD17,363/t) delivered D/P for tungsten concentrate WO3 55%min without any more concessions. They didn't close any orders and just carried our some long-term contract this week. The trader added, "We last sold about 30t of tungsten concentrate WO3 55%min at RMB123,500/t (USD17,155/t) early last week. For now, we have no interest at selling any materials at prices below RMB125,000/t (USD17,363/t) as we can't refill our stocks at any prices below RMB125,000/t (USD17,363/t) right now". The trader added most of mine haven't resumed their production after the Spring Festival now and hold low plan to sell at any lower prices. Due to tight supply, the trader predicts that the mainstream prices of Chinese tungsten concentrate WO3 55%min would increase slightly in the coming week.
With a regular monthly trading volume of around 1,000t of tungsten concentrate, the trader expects to sell about 800t this month, the same as last month, holding inventory of around 800t for the moment, unchanged MoM. They already sold roughly 8,500t totally in 2023.
Another trader in Jiangxi mentioned that they offered about RMB124,500/t (USD17,294/t) delivered D/P for tungsten concentrate WO3 55%min and have no intentions to sell at lower prices. They last sold about 30t at RMB124,000/t (USD17,224/t) last week and didn't sell this week. Due to the upward prices trend, the trader prefer to watch the market first. "There show limited orders as most consumers stay cautious now. Most of them purchase in orders, however, we still can't accept any lower prices as we can't purchase at any lower prices". Considering that most suppliers hold back from selling now, the trader predicts that the mainstream prices of Chinese tungsten concentrate WO3 55%min would increase slightly in the coming week.
With a regular monthly trading volume of 500t of tungsten concentrate, the trader saw a sales volume of 6,000t totally in 2023. They expect to sell about 500t this month, compared to about 600t last month, holding no inventory currently, stable MOM.
A trader in Jiangxi disclosed that they offered about RMB125,000/t (USD17,363/t) delivered D/P for tungsten concentrate WO3 55%min without any more concessions. They didn't close any orders and just carried our some long-term contract this week. The trader added, "We last sold about 30t of tungsten concentrate WO3 55%min at RMB123,500/t (USD17,155/t) early last week. For now, we have no interest at selling any materials at prices below RMB125,000/t (USD17,363/t) as we can't refill our stocks at any prices below RMB125,000/t (USD17,363/t) right now". The trader added most of mine haven't resumed their production after the Spring Festival now and hold low plan to sell at any lower prices. Due to tight supply, the trader predicts that the mainstream prices of Chinese tungsten concentrate WO3 55%min would increase slightly in the coming week.
With a regular monthly trading volume of around 1,000t of tungsten concentrate, the trader expects to sell about 800t this month, the same as last month, holding inventory of around 800t for the moment, unchanged MoM. They already sold roughly 8,500t totally in 2023.
Another trader in Jiangxi mentioned that they offered about RMB124,500/t (USD17,294/t) delivered D/P for tungsten concentrate WO3 55%min and have no intentions to sell at lower prices. They last sold about 30t at RMB124,000/t (USD17,224/t) last week and didn't sell this week. Due to the upward prices trend, the trader prefer to watch the market first. "There show limited orders as most consumers stay cautious now. Most of them purchase in orders, however, we still can't accept any lower prices as we can't purchase at any lower prices". Considering that most suppliers hold back from selling now, the trader predicts that the mainstream prices of Chinese tungsten concentrate WO3 55%min would increase slightly in the coming week.
With a regular monthly trading volume of 500t of tungsten concentrate, the trader saw a sales volume of 6,000t totally in 2023. They expect to sell about 500t this month, compared to about 600t last month, holding no inventory currently, stable MOM.
