China Commodity Marketplace
Downstream tungsten smelters were finding it hard to source low-price tungsten concentrate supplies this week with tungsten concentrate holders having revised their quotations cautiously, unwilling to sell at low prices. Mainstream wolframite (65% WO3) quotations dropped slightly to RMB 90,000~91,000/standard t; scheelite (65% WO3) is at RMB 89,000~90,000/standard t and tungsten concentrates (50~55% WO3) at RMB 86,000~89,000/standard t.
The domestic APT market is in decline, seeing mainstream transaction prices falling below RMB 140,000/t and mainstream quotations dropping to RMB 138,000~140,000/t. Actual transaction prices stand around RMB 138,000/t by cash. With increased operational rates at APT smelters boosting overall supply as well as previously low-price APT inventories being reintroduced into the market, domestic APT transaction prices are likely to trend down further in the short term.