China Commodity Marketplace-20190904
The domestic tungsten concentrate market has stagnated, with miners/traders having no incentive to sell at low prices levels, and downstream buyers unwilling to restock on sluggish demand. At present, wolframite (65% grade) mainstream quotations are steady at RMB 73,000~75,000/standard t; scheelite (65% grade) is at RMB 72,000~74,000/standard t and tungsten concentrates (50~55% grade) at RMB 69,000~71,000/standard t. Due to shrinking spot concentrate supply, smelters face increasing difficulties in sourcing low-price supply, and with downstream demand remaining sluggish, they have no intention to restock at high prices.
The domestic APT market is stable with mainstream quotations standing between RMB 112,000~114,000/t. With the upcoming auction date of Fanya’s 30 kt APT stocks, downstream buyers are adopting a cautious attitude to replenishment.