China Commodity Marketplace
6th February: Ganzhou Tungsten Association announced that due to the outbreak of 2019-nCoV and the extended holiday of most producers, publication of the February tungsten guide price will be delayed.
At present, tungsten concentrate supply has been further tightening, showing a bullish market outlook going forward. Jiangxi Tungsten is quoting its wolframite prices (national grade I) at RMB 93,000/t for February, up RMB4,000/t on-month.
In the meantime, most domestic APT smelters and downstream powder and carbide producers are under suspension due to the holiday, represented by weak demand. With both supply and demand remaining weak, transactions were sparse this week despite some tentative upward price revision. After most producers return to work next week, inquires and transactions are likely to increase accordingly.
