Offers of Minor Metals in Europe (2017-06-05)

[Tungsten News Flash] SMM May 13: A miner in Jiangxi plans to sell 73.8825 mt in physical content of low-grade tungsten concentrates via auction on May 15, including 28.9350 mt in physical content with WO3 grade ranging from 7%-9%, 20 mt in physical content with WO3 grade of 6%, and 24.9475 mt in physical content with WO3 grade ranging from 1%-2%.

[Tungsten News Flash] SMM May 13: On May 12, a Yunnan miner auctioned 730 dmt of crude tungsten-tin ore (WO₃ 2.84%; Sn 2.28%), with final transaction prices of 535,000 yuan/mt for tungsten and 319,800 yuan/mt Sn for tin.

[SMM Tungsten Daily Review: Tungsten Market in the Doldrums Consolidating at Lows, Scrap Tungsten Stabilized, Industry Policies Providing a Floor] SMM May 12: Recently, the tungsten market retreated from highs and continued to be in the doldrums. The price spread between upstream raw material long-term contracts and spot cargo spot orders continued to widen. Long-term contract quotes were repeatedly lowered, but the decline remained smaller than spot market spot order transaction prices. Wait-and-see sentiment was strong in the market, with very few transactions. On May 11, an enterprise in Guangdong canceled its fixed long-term contract pricing for the first half of May and switched to market-based negotiated pricing, shifting pricing power closer to the spot market. This intensified wait-and-see sentiment in the short term while also making raw material pricing more flexible. After a deep decline in the earlier period, scrap tungsten stopped falling and stabilized, rebounding slightly. Suppliers held back from selling at low prices, providing some support to the market.