Chinese tungsten concentrate prices keep upward trend
2024-04-23 08:30:57 [Print]
BEIJING (Asian Metal) 23 Apr 24 - Most suppliers hold bullish attitudes at the present and supply keep tight due to low intentions to sell from suppliers. Currently, the mainstream prices of Chinese tungsten concentrate WO3 55%min increase to RMB134,000-135,000/t (USD18,500-18,638/t) delivered D/P, up by RMB1,000/t (USD138/t) from late last week. Considering that supply keep tight and suppliers hold strong intentions to raise their prices further, insiders predict that the mainstream prices of Chinese tungsten concentrate WO3 55%min would increase further in the coming week.
A trader in Jiangxi disclosed that they offered about RMB137,000/t (USD18,914/t) delivered D/P for tungsten concentrate WO3 60%min without any more concessions. They didn't sell any materials this week as they failed to refill any materials this week. They last sold about 30t of tungsten concentrate WO3 60%min at RMB134,000/t (USD18,500/t) early last week. The trader added, "Most of our suppliers even raise prices to RMB138,000/t (USD19,053/t) early this week and most of them hold strong intentions to raise prices with limited supply". Under such situation, the trader predicts that the mainstream prices of Chinese tungsten concentrate WO3 55%min would increase further 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 mentioned that they don't offer actively for tungsten concentrate WO3 55%min now as most suppliers prefer to hold back selling now. They refuse to sell any materials at prices lower than RMB135,000/t (USD18,638/t) delivered D/P now and last sold about 30t at RMBA133,000/t (USD18,362/t) last week. The trader added, "Due to tight supply, most suppliers prefer to keep their prices firm and we failed to purchase any tungsten concentrate WO3 55%min at prices below RMB135,000/t (USD18,638/t) this week". Driven by upward trend of raw materials, the trader predicts that the mainstream prices of Chinese tungsten concentrate WO3 55%min would keep upward trend in the forthcoming 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 RMB137,000/t (USD18,914/t) delivered D/P for tungsten concentrate WO3 60%min without any more concessions. They didn't sell any materials this week as they failed to refill any materials this week. They last sold about 30t of tungsten concentrate WO3 60%min at RMB134,000/t (USD18,500/t) early last week. The trader added, "Most of our suppliers even raise prices to RMB138,000/t (USD19,053/t) early this week and most of them hold strong intentions to raise prices with limited supply". Under such situation, the trader predicts that the mainstream prices of Chinese tungsten concentrate WO3 55%min would increase further 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 mentioned that they don't offer actively for tungsten concentrate WO3 55%min now as most suppliers prefer to hold back selling now. They refuse to sell any materials at prices lower than RMB135,000/t (USD18,638/t) delivered D/P now and last sold about 30t at RMBA133,000/t (USD18,362/t) last week. The trader added, "Due to tight supply, most suppliers prefer to keep their prices firm and we failed to purchase any tungsten concentrate WO3 55%min at prices below RMB135,000/t (USD18,638/t) this week". Driven by upward trend of raw materials, the trader predicts that the mainstream prices of Chinese tungsten concentrate WO3 55%min would keep upward trend in the forthcoming 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.
