China Commodity Marketplace
Domestic tungsten concentrate prices held firm this week, leveraging downstream tungsten prices higher.
Shrinking spot supply on low operational rates at mines in conjunction with relatively low prices previously drove tungsten concentrate prices up this week. At present, wolframite (65% grade) mainstream quotations are at RMB88,000~89,000/standard t; scheelite (65% grade) is at RMB87,000~89,000/standard t and tungsten concentrates (50~55% grade) at RMB 85,000~87,000/standard t, all showing an upward trend. Meanwhile, downstream smelters remain cautious with no intentions to restock in bulk, resulting in few market transactions.
The domestic APT market has been steady, showing a moderate uptick, seeing mainstream quotations climbing to RMB136,000~138,000/t.