After two years, tungsten concentrate finally returns—at 80,000 yuan.
Release date:
2020-09-23
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Since the beginning of this year, tungsten concentrate prices have experienced a volatile trend, with the market already seeing two rounds of ups and downs in the first quarter. Various factors have collectively influenced these market fluctuations. Overall, tungsten concentrate prices have shown a steady upward trajectory, while the price range has gradually narrowed. Meanwhile, the inventory-depletion effect in the tungsten raw materials market has become increasingly evident.
Recently, the supply of tungsten concentrate has been tight in Jiangxi and Hunan provinces. In addition, tungsten mines in regions such as Yunnan, Henan, Xinjiang, and Inner Mongolia have seen limited availability entering the spot market—or their output has been largely intercepted by intermediate traders. Currently, in Jiangxi's trading markets, the price of black tungsten standard ore has surpassed 80,000 yuan per metric ton, while white tungsten standard ore is quoted at 78,000 yuan per metric ton. Meanwhile, in the raw ore market, black tungsten raw ore containing 60% or more tungsten content is priced at 1.1 yuan per kilogram.
Currently, the mainstream APT quote is between 121,000 to 123,000 yuan per ton, paid in cash. In Hunan province, smelters have been shutting down one after another due to environmental inspections. Meanwhile, smelters in Jiangxi province still hold spot inventories; however, some are adopting a wait-and-see approach as they’re unable to replenish their stocks because of the high prices for tungsten concentrates. Mainstream transactions are concentrated around the 121,000–122,000-yuan-per-ton cash price range, while higher-priced offers remain largely unaccepted.
Domestic mainstream tungsten carbide prices are currently hovering between 193 and 196 yuan per kilogram. Meanwhile, order volumes for tungsten carbide vary across key regions: large powder companies have secured较多 orders, while smaller and medium-sized enterprises are seeing only moderate demand at the moment. Considering the rising cost of raw materials, the market price of tungsten carbide is expected to surpass 194 yuan per kilogram in the near term.
Tungsten traders remain cautious, with APT prices supported by raw material costs. Downstream tungsten carbide products are also showing a slight upward trend. Meanwhile, tungsten concentrate has surpassed 80,000 yuan per metric ton, and market participants continue to adopt a wait-and-see approach. As a result, companies need to prioritize production, while trade risks are expected to escalate.
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