According to China Minmetals Nonferrous Metals (CMN) data, the company's black tungsten concentrate with 65% metal content will be priced at RMB160,000/mt(USD25,806.4/mt). The price of white tungsten concentrate with 65% metal content will be RMB159,000/mt(USD25,645.1/mt).
An smelter source from Jiangxi province said although indicated price had reached RMB230,000/mt(USD37096.7/mt), the quotation would not further increase. For domestic tungsten market could not accept such a high quotation. Minmetals tungsten concentrates price also came to RMB160,000/mt(USD25,806.4/mt) and market price maintained at RMB155,000/mt (USD25,000/mt) and transaction price was RMB145,000/mt(USD23,387.0/mt). Source said there exists inversion phenomenon in FeW production. The transaction volume of APT declined as well. APT export volume was small since 2013. Domestic tungsten market seemed hard to support such a high price. Most market participants are holding a wait-and-see attitude to the market.
Market outlook: there was little space for tungsten price to keep rising. Or the market would be hard to support anymore.