Shanghai Nonferrous Metals News
Transactions have been stagnant on the domestic tungsten market. Tungsten concentrate prices were firm in the wake of shrinking supply on mine suspensions before the holiday. On the other hand, miners are not keen to sell at the current price of RMB88,000/t, in comparison to the average industrial production cost of RMB85,000/t. Meanwhile, downstream producers are not interested in restocking at high prices due to ongoing depressed demand. At present, wolframite (65% grade) mainstream quotations are holding steady at RMB 88,000~90,000/standard t; scheelite (65% grade) is at RMB87,000~89,000/standard t and tungsten concentrates (50~55% grade) at RMB85,000~87,000/standard t.
The domestic APT market is stable, with mainstream quotations standing between RMB136,000~138,000/t, while most transactions are being concluded at RMB135,000~136,000/t.