China Commodity Marketplace
6 August: Ganzhou Tungsten Industry Association published its guide prices for tungsten products in August 2019, showing an overall increase on the previous month. The guide price for wolfram concentrate (55% WO3) is RMB 68,500/standard t, up 1,500/t on month, and that for APT is up by RMB 2,500/t to RMB 108,500/t. Prices for medium tungsten particles lifted by RMB 2/kg to RMB 182/kg.
7th August, Jiangxi Zhangyuan Tungsten’s procurement prices for wolfram (WO3≥55%) was RMB 68,500/standard t, sheelite (WO3≥55%) was at RMB 67,000/standard t during the first two weeks of August, both falling slightly by RMB 2,500/t from the last two weeks of July. Zhangyuan’s APT procurement prices fell by RMB 500/t from the last two weeks of July to the present level of RMB 108,500/t. (Payment terms: 98% by cash and 2% by acceptance bills)
With weak sentiment prevailing, downstream buyers remain cautious about replenishing supplies, seeing miners faced by increasing sales pressures. However, neither miners or traders are keen to sell at low-price levels and are holding firm on prices – given that current prices are still far lower than mining costs. Today, mainstream wolfram (65% WO3) quotations are firm at RMB 73,000~74,000/standard t, sheelite (65% WO3) at RMB 72,000~73,000/standard t, and tungsten concentrates (50~55% grade) at 68,000~71,000/t.
The domestic APT market remains gloomy, with mainstream quotations standing between RMB 113,000~115,000/. Most deals are being settled at RMB 110,000~112,000/t by cash – a consequence of news that Fanya’s 30 kt APT stocks will return to market shortly and relatively low long-term contracted prices of large producers at present.