China Commodity Marketplace
The domestic tungsten market continues weak at low levels. Domestic miners held firm on prices after mainstream prices fell below the average mining cost of RMB85,000/t, with the potential to slip further. At present, wolframite (65% grade) mainstream quotations are at RMB79,000~80,000/standard t; scheelite (65% grade) is at RMB78,000~79,000/standard t and tungsten concentrates (50~55% grade) at RMB 75,000~78,000/standard t, all down moderately from last week.
Domestic APT prices remain flat, with mainstream quotations sitting at RMB120,000~124,000/t. Downstream buyers are cautious about restocking and APT smelters are reluctant to take low price offers, seeing spot market transaction prices continue above the RMB120,000/t level by cash.