China’s ferrotungsten price gains on cost support

China’s ferrotungsten price has posted gains recently, levered higher thanks to the continuous rise in domestic prices of tungsten concentrates, with that for 80% W ferrotungsten gaining Yuan 2,000/tonne ($299/t) to reach Yuan 161,000/t as of March 20, according to Mysteel’s database. Prior to the increase, prices had been hovering at the 17-month low of Yuan 159,000/t for more than three months till March 18, Mysteel notes.

Major tungsten suppliers had started lifting their sales prices of tungsten concentrates for long-term customers since February, which clearly provided some support to China’s ferrotungsten market as the smelters’ production costs have increased markedly, Mysteel notes. Chongyi Zhangyuan Tungsten Co, a leading tungsten supplier headquartered in Southeast China’s Jiangxi province, has decided to further lift