[Ferro-Alloys.com] Ganzhou Tungsten Association (GTA) has raised its tungsten price forecasts for March in line with the price recovery in the spot market after the Chinese New Year break and due to strong expectations for tighter supply in tungsten concentrates in March.

The China-based association forecast average prices for black tungsten concentrate 65% and ammonium paratungstate (APT) in March at 113,000 yuan ($17,795) and 174,000 yuan per tonne respectively, up 2,000 yuan and 3,000 yuan from February.

Metal Bulletin’s latest weekly assessment of black tungsten concentrates 65% on Wednesday February 28 was 110,000-112,000 yuan per tonne with the high end edging up 1,000 yuan and the low end unchanged.

“The supply in tungsten concentrates will tighten further because of production suspensions at tungsten miners during the National Committee of the Chinese People's Political Consultative Conference and the National People's Congress which began on March 3 and 5 respectively and will last around 10 days, so prices of the cargo are estimated to rise again,” one consumer said.

Meanwhile, major producer Jiangxi Tungsten Group released its price forecast for black tungsten concentrates 65% in March at 115,000 yuan per tonne (up 2,000 yuan from the previous month), and Zhangyuan Tungsten predicted average prices of 113,000 yuan in the first half of March.

Spot APT prices have surged this week, unpinned by supply tightness and higher prices for the raw material.

Market participants reported offers for spot APT in China at around 175,000-177,000 yuan per tonne on Tuesday March 6, 2,000 yuan higher than during the last pricing session on Wednesday.

Ferro-Alloys.com assessed for China APT prices at $320-325 per metric tonne unit on Wednesday February 28, up from $320-322 before the Chinese New Year holiday (February 15-21) in response to the price rebound in early last week. The next price assessment will be published on Wednesday March 7.

Article from Internet for reference only

• [Editor:Jiang Li Juan ]