China Commodity Marketplace
Domestic tungsten miners continued to hold firm on prices this week with little interest of selling at low prices. Mainstream wolframite (65% WO3 grade) prices dropped to RMB 77,000~79,000/t, scheelite (65% WO3 grade) prices dropped to RMB 76,000~78,000/t and tungsten concentrates at (55% WO3 grade) were RMB 74,000~76,000/t. Downstream tungsten smelters remain cautious about high-level quotations, resulting in a lackluster market.
The domestic APT price has been stable at RMB119,000~121,000/t. In the wake of production costs continuing at a higher level than prices, and limited supply of low-cost tungsten concentrates, APT smelters are declining sales at low prices. Spot market transaction prices have moderated up slightly and are approaching RMB120,000/t.