Tungsten bar export market quiet with few concluded deals
After the holiday, the tungsten bar export market remains quiet and few deals are concluded. Market participants forecasted an inactive future market.
A Guangdong-based tungsten bar producer disclosed to Asian Metal that their offer of 99.9%min metallurgical grade tungsten bar fell to USD25/kg FOB China, against the offer of USD26/kg FOB China before the Chinese National Day Holiday. The producer also claimed that they had not sold anything in the export market for about half a month.
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With a full production capacity of about 60tpm, the source only sold about 10t of tungsten bar in September. “We used to produce tungsten wire with tungsten bar, but as the market is too dull, we stopped the tungsten wire production, and the tungsten bar production reduced accordingly.” The official holds a pessimistic attitude to the future market and forecasts that the tungsten bar market will keep sluggish in the near future because of the weak demand.
.com 4SV6
An official of a Jiangxi-based tungsten bar producer confirmed the price of about USD25/kg FOB China for 99.9%min metallurgical grade tungsten bar in the export market. The producer also offers RMB172/kg(USD25.18/kg) for 99.9%min metallurgical grade tungsten and in the domestic market, but no deal was concluded in the past ten days.
The source held a negative attitude to the future market. “I learned that because of the dull demand, there are already APT producers offering RMB103,000/t(USD170/mtu), against the mainstream price of RMB104,000/t(USD172/mtu) before the holiday, and as the raw material price softens, the tungsten bar price may adjust accordingly in the near future.”
COLLETED BY KAREN FROM www.chinatungsten.com
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