China Commodity Marketplace
The upswing in domestic tungsten concentrate prices slowed this week led by continuing lackluster downstream demand after concentrate prices rebounded to RMB85,000/t level. At present, wolframite (65% grade) mainstream quotations are at RMB84,000~86,000/standard t; scheelite (65% grade) is at RMB83,000~85,000/standard t and tungsten concentrates (50~55% grade) at RMB 81,000~83,000/standard t, all stable from last week. Tungsten concentrate holders are holding firm on prices.
Downstream APT smelters face increasing difficulties in buying tungsten concentrates of standard grade under RMB85,000/t due to shortening supply. As a result, domestic APT prices trended up slightly this week, with mainstream quotations at RMB126,000~128,000/t driven by rising concentrate prices and low operational rates at APT smelters. APT smelters are holding the floor price firm above RMB126,000/t for spot transactions by cash.