Tungsten Scraps Market Remains Inactive
During the Chinese National Holiday, tungsten scraps market kept quiet. Many scraps recycling companies shutdown their production before they left for holiday, and remain closed at present.
An official from a Hunan tungsten scraps recycling center told Asian Metal that they stopped production in the end of August, and have about 20t of 90%min WO3 tungsten scraps on hand. “Business is not going well. There is very little demand in the current market,” said the source, adding that they have no intention of resuming production soon. “Not before the market turning better,” he added.
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The official holds that the mainstream price of 90%min WO3 tungsten scraps price is stable at around RMB950/mtu (USD139/mtu), which is the same as the price before the holiday. He is pessimistic about the current tungsten market and he believes the demand of tungsten products, including tungsten scraps, will remain at lower level in the rest of the year, so will the price.
An official from a Jiangsu sodium tungstate producer disclosed to Asian Metal that he bought a batch of 80-90% WO3 tungsten scraps at RMB930/mtu (USD136/mtu), and he holds that the mainstream price is in the range of USD930-950/mtu (USD136-139/mtu) in the current spot market. The source has a sodium tungstate production capacity of close to 50tpm, and now is producing at around 20tpm. “We have to control the level of output according to customers’ orders as we do not want too much stock in our warehouse,” the source said.
According to him, the price of tungsten scraps started decreasing from the beginning of September and it was slightly over RMB1,000/mtu at that time. “I am afraid that the tungsten scraps price will fall again, which may lead the sodium tungstate price to fall in near future,” the official remarked. He holds pessimistic view towards the future market as the demand of tungsten products is unlikely to improve because of the weak economy.
Collected By Karen from www.chinatungsten.com
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Disclaimer: The article is only reflecting the opinions of the author. We have no responsibility to prove the originality and authenticity of the content, words and/or pictures. You readers should just take it as reference and check the details by yourselves. And the content is not a suggestion for investment decision. The investor takes his or her own risks if he or she operates accordingly. If you have any dissent about the contents above, please contact the relevant author, or the webmaster. We will try our best to assist the dealing of the related issues. Thanks for your visit and cooperation.
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