China Commodity Marketplace
This week: The domestic tungsten market rebounded, showing a strong upward momentum. Miners previously cut production under pressure from continued low prices, resulting in tightening supply in the spot market. In addition, miners have been waiting for a price rebound and traders held back sales when prices were low, all these factors haves buoyed up tungsten prices this week. At present, mainstream wolframite (65% WO3) quotations are at RMB 77,000~78,000/standard t; scheelite (65% WO3) is at 76,000~77,000/t and tungsten concentrates (50~55%) at RMB 72,000~75,000/t.
The domestic APT market also improved in the wake of rising concentrate prices – shoring up production costs. In addition, with the beginning of the consumption peak season, increase in quotation inquires and transactions were moderate, driven by fixed demand. As a result, domestic APT smelters increased quotations to RMB 117,000~119,000/t.