China Commodity Marketplace
Domestic tungsten prices have stopped falling, with miners refusing to sell at low prices. At present, wolframite (65% grade) mainstream quotations are at RMB75,000~76,000/standard t; scheelite (65% grade) is at RMB74,000~76,000/standard t and tungsten concentrates (50~55% grade) at RMB 71,000~74,000/standard t, all holding stable from late week. Several APT smelters are interested in restocking, but transactions are sparse due to continuing lackluster downstream demand.
Domestic APT prices remain flat at the low end, with mainstream quotations sitting at RMB116,000~118,000/t. APT smelters are holding firm at a bottom line of RMB115,000/t by cash, declining any lower offers. Some APT smelters have been forced to halt or reduce operations amid low prices, resulting in a supply crunch. As a result, downstream buyers face increasing difficulties with replenishment.