China Commodity Market Place
The domestic tungsten concentrate market remained weak, seeing tungsten concentrate prices consolidating after falling below RMB80,000/t during the week. However given continued lackluster downstream demand, domestic tungsten prices have the potential to fall further going forward. Mainstream wolframite (65% WO3 grade) prices dropped to RMB 80,000~82,000/t, scheelite (65% WO3 grade) prices dropped to RMB 79,000~81,000/t and tungsten concentrates at (55% WO3 grade) were RMB 77,000~79,000/t.
The domestic APT market has been bleak, with mainstream prices falling to RMB124,000~126,000/t. With ample APT supply available on the market and downstream buyers being cautious, spot market transaction prices have fallen to RMB124,000/t or lower.