China Commodity Marketplace
Domestic tungsten market remained stagnated this week seeing concentrate holders holding firm on price and downstream buyers continue to be cautious driven by continued weak downstream demand. At present, wolframite (65% WO3 grade) mainstream quotations are at RMB80,000~81,000/standard t; scheelite (65% WO3 grade) at RMB79,000~80,000/standard t and tungsten concentrates (50~55% WO3 grade) at RMB76,000~79,000/standard t, all remaining stable from last week.
The domestic APT market appeared stable with mainstream quotations at RMB122,000~123,000/t. Xiamen Tungsten published its long-term procurement prices for the second half of June and tuned it down by RMB1,000/ t to RMB121,000/t from the previous term, aligning with spot market transaction prices.