Tungsten concentrate suppliers hold on
2006-07-26 15:03:07 【Print】
BEIJING (Asian Metal) 26 Jul 06 – Major tungsten concentrate suppliers hold back from selling their stocks, hoping the price to rise further, participants reported.
A source of a Fujian-based smelter reported yesterday that suppliers in Jiangxi hold the synthetic wolframite on hand, thought spot prices rose to around RMB108,000/t (USD210/mtu) from previous RMB105,000/t (USD204/mtu).
Due to floods caused by storm Bilis, major plants in Hunan had to halt the supply of tungsten concentrate. According to participants, the tungsten concentrate production will return to normal in one month at least.
Meanwhile, the source disclosed that the smelter raised its APT price to RMB168,000/t (USD240/mtu) this week, but the market is not active.
A source from a Guangdong-based smelter confirmed the tight supply, said that the smelter had halted its APT production partially due to the weak demand for APT and high prices of tungsten concentrate.
According to the source, the smelter had bid at RMB108,000/t (USD210/mtu) for synthetic wolframite 65% last week, but suppliers were reluctant to sell and some of them quoted higher prices for the material.
