China Commodity Marketplace
Domestic tungsten concentrate prices continued to climb, lifting to over RMB80,000/standard t boosted by producers’ strong will to prop prices and Fanya’s APT auction closing last week – at a much higher level than market expectations. At present, wolframite (65% WO3) mainstream quotations are at RMB81,000~82,000/standard t; scheelite (65% WO3) is at RMB 80,000~81,000/standard t and tungsten concentrates (50~55% grade) at RMB 76,000~79,000/standard t. Several miners and traders have halted quotations.
Domestic APT prices have been on the rise, seeing mainstream quotations lifting to RMB121,000~125,000/t with some exceeding RMB127,000/t. Market commentators expect APT prices to exceed RMB130,000/t in the short-term. However, with downstream demand remaining weak, buyers are only restocking to feed normal daily operations and remain reluctant to buy in bulk.