Tungsten market summary Feb 20-24

BEIJING (Asian Metal) 27 Feb 06 – Tungsten concentrate rose continuously in the Chinese market this week. Following the jack-up, both APT and tungsten carbide also moved up greatly.Asian Metal Copyright European ferrotungsten market has been slowed down due to the big price increase raised by Chinese suppliers.Asian Metal Copyright Ferrotungsten prices remained on the rising trend though major Chinese smelters announced to resume production next week.

Tungsten concentrate prices rose to RMB130,000/t (USD249/mtu) this week from RMB120,000-125,000/t (USD230-239/mtu) ex works last week. Participants claimed that ore suppliers remained holding their stockpiles and refusing to sell, believing the price will move up further.

APT producers raised the price to RMB198,000-200,000/t (USD279-281/mtu) ex works this week, market participants reported to Asian Metal, that it’s difficult to accept. Last week, APT was concluded for RMB190,000-192,000/t (MTU267-270/mtu) ex works in China.

Meanwhile, European traders told Asian Metal that Chinese suppliers have elevated the APT prices to USD290/mtu CIF Rotterdam from USD280-285/mtu last week. In Europe, the concluded price is around USD290/mtu in warehouse Rotterdam with small quantity.

Because of the markup of raw material, tungsten carbide powder 2-5µm prices rose to RMB285-290/kg (USD35.5-36.1/mtu) ex works from RMB278-280/kg (USD34.Asian Metal Copyright50kg in warehouse Rotterdam bid by local consumers; however, Chinese suppliers quote the price at USD35.Asian Metal Copyright6-34.9/kg) last week. The regenerative tungsten carbide remains on the rising trend with a price of RMB215/kg (USD26.8/kg) ex works this week.Asian Metal Copyright5-35.Asian Metal Copyright

Although the tungsten concentrate remained strong in the Chinese market, major ferrotungsten smelters announced to prepare resuming production next week starting on February 28. A major Jiangxi-based smelter reported Asian Metal that the new price for its ferrotungsten is at RMB200,000/t (USD24.9/kg) ex works, while the export price rose to USD34.Asian Metal Copyright9kg ex works, while the export price rose to USD34.Asian Metal Copyright5-35.0/kg FOB this week.Asian Metal Copyright Following the jack-up, both APT and tungsten carbide also moved up greatly.Asian Metal Copyright

European ferrotungsten market has been slowed down due to the big price increase raised by Chinese suppliers. A UK trader told Asian Metal that the acceptable price was around USD34.50/kg in warehouse Rotterdam bid by local consumers; however, Chinese suppliers quote the price at USD35.0/kg FOB.