SHANGHAI, Jul. 26 (SMM) – On July 24, one large tungsten smelter in Fujian signed its fourth APT term contact in the month with cash prices up by 4,000 yuan per tonne to 130,000 yuan per tonne on a weekly basis.
Tungsten price, remaining in upward track, hit a 2-year high this past week.
Supply shortage of tungsten concentrate is attributed as the main strength to the price hike.
From the first half of year, low-priced tungsten inventory decreases notably in response to decent demand. This, combined with demand improvement in foreign markets and output cut at mines, tightens supply of tungsten concentrate further in China’s market.
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