Prices for China's tungsten concentrate continue to strengthen amid tight supply from mining companies. The price increases for the raw material have also triggered higher offers for ammonium paratungstate (APT) but downstream tungsten powder and alloy consumers are resisting them amid weak economic conditions, resulting in a stalemate.
Costlier concentrate
Fastmarkets' weekly price assessment for
tungsten concentrate 65% WO3, in-whs China was 78,000-80,000 yuan ($10,998-11,280) per tonne on Wednesday May 13, up by 1,000 yuan per tonne (1.3%) from 77,000-79,000 yuan per tonne a week earlier.
The Ganzhou Tungsten Association (GTA) published a forecast price of 76,000 yuan per tonne for black tungsten concentrate, basis 55% WO3 in China's domestic market for May.
This is largely in line with a price of 78,000 yuan per tonne for black tungsten concentrate, basis 65% WO3. The GTA
did not forecast a price for April due to a lack of liquidity.
But sources described the GTA's forecast price as being out of touch with current market prices, suggesting that consumers were not able to source concentrate at 78,000 yuan per tonne.
"The concentrate price should be around 80,000...