Offers of Minor Metals in Europe (2017-10-09）

[SMM Titanium Spot Brief: Titanium Dioxide Prices Rose, Titanium Slag Prices Fell, Titanium Ore Prices Held Steady] On April 10, acid-soluble titanium slag prices fell, while reduced titanium and high-titanium slag prices held steady. Titanium tetrachloride prices rose, and titanium ore prices remained largely stable overall. Titanium dioxide prices saw a broad rise this week, with anatase and rutile grades posting notable gains, while chloride-process titanium dioxide edged up. High-titanium slag prices are expected to hold steady, and titanium concentrate prices are likely to see limited fluctuations.

Since March, the domestic tungsten market has trended higher and then pulled back. Driven by rigid supply and macro sentiment at the beginning of March, prices rose rapidly, with 65% wolframite concentrate hitting a record high of 105,000 yuan per standard ton. Starting from mid-March, profit-taking by investors, downstream resistance to high prices, and a general correction in commodity markets led to a gradual price pullback, pushing the entire market into a phase of supply-demand game.

[Tungsten Industry Long-term Contract Information] SMM April 10: A tungsten enterprise in Guangdong released its long-term contract prices for the first half of April. Specifically, 55% wolframite concentrates were priced at 925,000 yuan/standard tonne (65%WO3 basis), 55% scheelite concentrates at 924,000 yuan/standard tonne (65%WO3 basis), with tungsten ore concentrate long-term contract prices down 80,000 yuan/standard tonne (65%WO3 basis) from the second half of March. APT was priced at 1.4 million yuan/mt, down 80,000 yuan/mt from the second half of March (Note: All prices above are inclusive of 13% VAT).