Asian Metal News
Domestic tungsten concentrate prices have been on the rise this week due to tightening supply. Mainstream tungsten concentrate prices (55% WO3) stand at RMB 122,000~123,000/t, up by RMB 1000/t from early this week. Industry insiders forecast domestic tungsten concentrate prices to hold at the current level next week.
A trader in Yunnan revealed that they sold 40 tonnes of tungsten concentrate at RMB 122,000/t before the Chinese New Year holiday. The trader is currently declining offers of less than RMB 123,000/t and has had no transactions this week. The trader sold 6 kt in 2023 with a monthly average at 500 tonnes and expects 200 tonnes in February 2024. The trader holds 800 tonnes of tungsten concentrate in stock at present.
A Jiangxi trader disclosed that they sold 30 tonnes of tungsten concentrate at RMB 122,000/t before the Chinese New Year holiday, that they have made no transactions this week and have no intention of making any offers at present. The trader sold 4.5 kt of tungsten concentrate in 2023, made 200 tonnes in January 2024 and holds 300 tonnes in stock at present.
