Tungsten Bar Market Remains Inactive in China.
The Tungsten bar market is quiet recently, and many market participants hold wait-and-see attitudes toward the market. Owing to the increasing tungsten concentrate and APT prices, some tungsten bar suppliers intend to increase offers. However, under the current weak demand, the prices are hard to increase sharply.
A producer based in Henan, whose regular capacity is around 20 tons per month, noted that they are out of production now, and intend to resume production after the Spring Festival. He said that they have some stocks in hand and they make offers for metallurgic grade tungsten bar 99.9%min at RMB300/kg (USD47.6/kg) this week, unchanged compared with those of last week.
The tungsten powder price increases slightly this week. The source expressed that due to the inactive downstream markets, it is hard to for tungsten bar price to move up sharply. Looking ahead, the source thinks that tungsten bar market will keep quiet in the following days.
A producer based in Sichuan, with an output of around 15 tons per month, revealed that they quote prices for doped grade tungsten bars 99.95%min at RMB335-340/kg (USD53.3-54.1/kg) this week, unchanged compared with those of last week. He added that they mainly deal with some old orders, and few deals are concluded in the spot market.
The source told Asian Metal that they purchased a batch of APT at RMB172,000/t (USD309/mtu) late last month. He said that the APT prices increase this week, and they have no intention in adding stocks for the moment.
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