Chinese tungsten concentrate prices up slightly
2024-03-27 08:50:23 [Print]
BEIJING (Asian Metal) 27 Mar 24 - Driven by tight supply of tungsten concentrate, most suppliers held low intention to sell now, some suppliers raise their prices slightly. Currently, the mainstream prices of Chinese tungsten concentrate WO3 55%min increased to RMB125,500-126,500/t (USD17,386-17,525/t) delivered D/P, up by RMB1,000/t (USD138.5/t) from last week. Considering that most suppliers prefer to keep their prices firm, even though there show limited orders, insiders predict that the mainstream prices of Chinese tungsten concentrate WO3 55%min would keep firm in the coming week.
A trader in Jiangxi disclosed that they offered about RMB126,500/t (USD17,525/t) delivered D/P for tungsten concentrate WO3 60%min without any more concessions. They didn't sell any materials this week and last sold about 30t of tungsten concentrate WO3 60%min at RMB126,000/t (USD17,456/t) late last week. The trader added, "We heard that some peer sold some tungsten concentrate WO3 60%min at RMB127,000/t (USD17,594/t). Now supply keep tight as most suppliers refuse to sell any materials now". Although most of their clients prefer to purchase in orders with limited orders, due to tight supply of raw materials, insiders predict that the mainstream prices of Chinese tungsten concentrate WO3 55%min would be firm in the coming week.
With a regular monthly trading volume of 800t of tungsten concentrate, the trader saw a sales volume of 7,000t totally in 2023. They expect to sell about 500t this month, compared to about 300t last month, holding no inventory currently, stable MoM.
Another trader in Yunnan mentioned that they don't offer for tungsten concentrate WO3 55%min as they hold bullish attitudes towards the market. They prefer to sell tungsten concentrate WO3 55%min at RMB128,000/t (USD17,733/t) delivered D/P in the future. They didn't sell any materials at current prices and they last sold about 64t at RMB125,000/t (USD17,317/t) one week ago. The trader added, "We received many inquiries which clients want to purchase at around RMB126,000/t(USD17,456/t), we have no intentions to sell now". As prices keep upward trend now, so they prefer to wait for higher prices and make sales, 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 400t of tungsten concentrate, the trader expects to sell about 300t this month, the same as last month, holding inventory of around 800t for the moment, unchanged MoM. They sold roughly 4,500t totally in 2023.
A trader in Jiangxi disclosed that they offered about RMB126,500/t (USD17,525/t) delivered D/P for tungsten concentrate WO3 60%min without any more concessions. They didn't sell any materials this week and last sold about 30t of tungsten concentrate WO3 60%min at RMB126,000/t (USD17,456/t) late last week. The trader added, "We heard that some peer sold some tungsten concentrate WO3 60%min at RMB127,000/t (USD17,594/t). Now supply keep tight as most suppliers refuse to sell any materials now". Although most of their clients prefer to purchase in orders with limited orders, due to tight supply of raw materials, insiders predict that the mainstream prices of Chinese tungsten concentrate WO3 55%min would be firm in the coming week.
With a regular monthly trading volume of 800t of tungsten concentrate, the trader saw a sales volume of 7,000t totally in 2023. They expect to sell about 500t this month, compared to about 300t last month, holding no inventory currently, stable MoM.
Another trader in Yunnan mentioned that they don't offer for tungsten concentrate WO3 55%min as they hold bullish attitudes towards the market. They prefer to sell tungsten concentrate WO3 55%min at RMB128,000/t (USD17,733/t) delivered D/P in the future. They didn't sell any materials at current prices and they last sold about 64t at RMB125,000/t (USD17,317/t) one week ago. The trader added, "We received many inquiries which clients want to purchase at around RMB126,000/t(USD17,456/t), we have no intentions to sell now". As prices keep upward trend now, so they prefer to wait for higher prices and make sales, 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 400t of tungsten concentrate, the trader expects to sell about 300t this month, the same as last month, holding inventory of around 800t for the moment, unchanged MoM. They sold roughly 4,500t totally in 2023.
