China Commodity Marketplace
GTA (Ganzhou Tungsten Association) published its forecast prices for tungsten products in September 2019. The forecast price for wolframite concentrate (55% WO3) is RMB 73,000/standard t, up 4,500/t on-month, and that for APT is up by RMB 4,500/t on-month to RMB 113,000/t. Prices for tungsten powders (medium grain) lowered by RMB 2/kg on-month to RMB 180/kg.
Jiangxi Zhangyuan Tungsten published its procurement prices for long-term contracts during the first two weeks of September. The procurement price for wolframite (WO3≥55%) was RMB 73,000/standard t, scheelite (WO3≥55%) was at RMB 71,500/standard t, both increasing by RMB 4,500/t from the last two weeks of August. Zhangyuan’s APT procurement price (payment by cash) increased by RMB 4,500/t from the last two weeks of August to the present level of RMB 113,000/t.
According to current market conditions, industry producers have stronger confidence in propping prices and quotations for each product are showing an upward trend. This week, the upward trend of the tungsten concentrate market began to be highlighted, and offers from miners were intentionally raised. The tungsten concentrate price is expected to break through the barrier of RMB 75,000/standard t. Downstream smelters reported that the difficulty in purchasing tungsten concentrates has increased. Due to higher offers, the actual transaction price has risen. At the same time, the performance of the APT market is slightly firmer, and producers are expecting strong price increases. According to an industry source, mainstream APT quotations have been increasing to more than RMB 115,000/t, with some quotations rising to the level of RMB 116,000/t. Although the tungsten powder market was relatively stable this week, with a trend of rising costs, powder prices are expected to increase moderately next week.