China Commodity Marketplace
Domestic tungsten prices continue to rise after the CNY holiday, further surging to RMB95,000/t after rebounding to RMB90,000/t in January. As of end-February 2021, mainstream wolframite (65% WO3) prices climbed to RMB94,000~96,000/t, scheelite (65% WO3) prices were RMB93,000~95,000/t and tungsten concentrates (50~55% WO3) were RMB91,000~93,000/t.
Boosted by strong concentrate prices, mainstream domestic APT prices rose to RMB143,000~146,000/t this week. APT smelters are holding firm on prices in view of rising production costs and increased long-term contract prices of large producers. APT smelters are bullish about market prospects in the wake of increasing overseas orders after the holiday and are tending to adhere to a price bottom line of RMB143,000~144,000/t.