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Tungsten prices continued to remain high , large spreads
In the first half of tungsten meteoric rise, supported by Minmetals purchasing and storage , tungsten prices rose sharply , from January to July 2013 the price of tungsten has maintained gains , even though the third quarter to stop the acquisition of tungsten products , the demand can not push the price of tungsten continued to rise, but still maintain a certain high. Wolframite January monthly average price of 110,250 yuan / ton , the average price for the month rose in July 143,565.22 yuan / ton , an increase of 30.22% ; paratungstate January monthly average price of 167,409.09 yuan / ton, the average price for the month rose in July 217,478.26 / ton , an increase of 29.91% .
This year the level of spreads large tungsten City , the overall market price performance of the more confusing. On the one hand is a large tungsten level of spread , giving the impression that price data is more confusing. 1-9 months , wolframite lowest price 106,000 yuan / ton , the highest price of 146,000 yuan / ton, the price difference of up to 40,000 yuan / ton ; 1-9 months , paratungstate lowest price 164,000 yuan / ton, the highest price to 222,000 yuan / ton , up 580 million yuan spreads / ton. On the other hand due to the tungsten capital city businesses generally tight , the current mainstream price of tungsten widespread acceptance from the previous price to cash price to the market caused a lot of misunderstanding initial changes.
Agency quoted market intervention from strong to weak
The fourth quarter of 2012, since large-scale purchasing and storage of tungsten concentrates Minmetals , the purchase price is generally higher than the market price 5000 yuan / ton, acceptance 1-2 months , prompting repeated price increases . May 2013 Minmetals biggest purchases , pricing peaked great 6- July to reduce purchases impact on the market , but the impact on the market price of the institutions at this time is still great , because tungsten downstream demand continues to slump, the market most sources are supplied to Minmetals .
From July 24, 2013 Minmetals stop purchasing tungsten concentrate , early August Minmetals businesses still have expectations, but the delay in procurement of Minmetals , just a quote, business-to- Minmetals expectations gradually over time decreases, Minmetals market intervention also reduced .
September 3 Minmetals inquiry tungsten concentrate , and 135,000 yuan / ton price purchase a small amount of tungsten concentrate , promissory month. But the 5th guidance was given 160,000 yuan / ton high , and there is no corresponding procurement, business confidence suffered a serious setback , Minmetals guidance influence greatly weakened.
October , Minmetals bow to the market , guided closer to the actual price and the offer and January 2013 guidance unchanged , which also shows the market price of tungsten concentrate now return to the beginning of the year , is still at a relatively high level.
Our analysis: When the agency quoted the closer the actual market price , the greater the pricing mechanism , the stronger market intervention ; On the contrary , from the market , institutional offer will lack guidance.
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