SHANGHAI, Feb 27 (SMM) -
In the first trading week after the CNY holiday, large companies in the tungsten market released a new round of long-term purchase prices. There were generally slight price increases, and the market continued to maintain its strong momentum.
Tungsten mining companies have not yet resumed normal mining, the circulation of tungsten resources is tight, causing sellers to hold back cargoes. This provided effective support for tungsten prices. The mainstream price for 55% black tungsten concentrate is between 125,000-123,500 yuan/standard ton, with no large-volume transactions.
Amidst the slight upward trend in raw material prices, APT prices did not follow suit. This is mainly due to the fact that the terminal demand in the tungsten market is lower than expected and the acceptance of price increases is limited. As a result, the high cost of APT smelting cannot be transferred to the market in a timely manner. Enthusiasm for resuming production after the CNY holiday has declined, and market transactions were quiet. Currently, the APT long-term order price is 182,000 yuan/ton, and the market bulk price is negotiated at 183,500-183,500 yuan/ton. The trading is muted.
In the tungsten powder market, since most downstream companies stockpile raw materials until March, purchasing enthusiasm was limited in the first week after CNY . The mainstream transaction price of tungsten powder at the beginning of the week was 273 yuan/kg, and the mainstream negotiation price at the weekend was 274-276 yuan/kg.
The shortage of tungsten raw materials will be alleviated to a limited extent in the short term. Tungsten prices may stabilize at a high level under the strong support of costs.
Guangdong Xianglu Tungsten Industry's long-term order purchase price in cash in February 2024 is: 55% black tungsten concentrate 122,000 yuan/standard ton; 55% scheelite concentrate 121,000 yuan/standard ton; APT 182,000 yuan/ton. (The cash pricing for the last round of long-term purchase orders is: 55% black tungsten concentrate 120,500 yuan/standard ton; 55% scheelite concentrate 119,500 yuan/standard ton; APT 180,500 yuan/ton.)
A large company in Fujian quoted the purchase prices of APT under long-term contracts in the second half of February stood at 182,000 yuan/mt (in cash). (Cash purchase price for the last round of long-term orders: APT 180,500 yuan/ton)
Jiangxi Tungsten Industry Holding Group Co., Ltd.’s national standard first-grade black tungsten concentrate set guide price at 123,500 yuan/standard ton in the second half of February 2024. (Same as the previous round of quotations)
Chongyi Zhangyuan Tungsten Industry Co., Ltd.’s long-term order quotation in the second half of February is as follows: (The above unit price includes 13% value-added tax)
1. Black tungsten concentrate (WO3≥55%): 122,000 yuan/standard ton, an increase of 500 yuan/standard ton from the last round of quotation;
2. Scheelite concentrate (WO3≥55%): 120,500 yuan/standard ton, an increase of 500 yuan/standard ton from the last round of quotation;
3. Ammonium paratungstate (national standard zero grade): 182,000 yuan/ton, an increase of 500 yuan/standard ton from the previous round of quotation.
