Price outlook

摘要

Chinese tungsten prices rose in July after falling belowproduction costs in June. Tighter concentrate feedstockavailability and narrower profit margins have boosted thetungsten market in the past month, despite flat demandfrom the cemented carbide and speciality steel industries.Export demand has remained limited.Prices for 55pc grade wolframite concentrate held firm at78,000-80,000 yuan/t during 1-21 July, with concentrateproducers rejecting lower bid prices given thin profit mar-gins. Prices moved up by Yn1,000/t to Yn79,000-81,000/t on23 July and by another Yn1,000/t to Yn80,000-82,000/t on28 July, as heavy rainfall in the south of the country causedlogistical issues.