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To: LoneClone who wrote (96700)

12/17/2012 9:00:26 PM

From: LoneClone

Read Replies (1) | Respond to of 192748

China Tungsten Weekly Review (Nov.26-30,2012)
2012-12-03 08:16:38

antaike.com

Beijing, Dec.3 (Antaike)-Domestic tungsten price declined slightly this week (Nov. 26-30). The market quotation was with a wider price range.

Domestic Tungsten Market Quotation by Products on Nov. 30

(Unit: yuan/t)

Products	Type	Mainstream Quotation	By region
Scheelite concentrate	65%	112,000-115,000	Hunan Province
Wolfrimate concentrate	65%	115,000-120,000	Jiangxi Province
APT	88.50%	173,000-177,000	ChongYi county, JiangXi province
Ferrotungsten	W70	172,000-178,000	Hunan Province
Tungsten carbide powder	2-10um	270,000-273,000	Zhuzhou City, Hunan Province

Sources from Beijing Antaike Information Development Co., Ltd

According to Antaike’s survey that the mainstream quotation of tungsten conc. was 117,000-118,000 yuan/t, slightly down compared with previous period. Most of miners were still unwilling to sell out at current. A purchaser told Antaike that there was a little difficult to clinch a deal. Presently, APT mainstream market quotation was 173,000-175,000yuan/t, fell down slightly too. Due to the increasing in tungsten conc.price was too fast and weak demand in downstream, it was normal for the recent pullback in tungsten market price. Tungsten carbide powder price stayed at the same level, but the transaction was still thin, which led the purchasers took the wait-and-see attitude. Ferrotungsten quotation was firm, but the actual sale price was 170,000-175,000yuan/t.

Some of big groups purchased a large amount of tungsten conc. in Nov. of this year. As financial settlement will be finished in Dec. before the new fiscal year, the enterprises purchasing will be reduced gradually.

According to Antaike’s analyst that the tungsten conc. price is expected to be at 115,000-120,000 yuan/t in early Dec. From late Dec. of 2012 to Jan. of 2013, along with the stopped purchasing by big enterprises, the domestic tungsten price might face downside risk.