APT prices resumed their ascent in earnest last week. Metal Bulletin assessed APT prices in a range of $218-226 per mtu, cif Rotterdam, on Friday July 14, up from $215-227 per mtu a week earlier.
Buyers were bidding aggressively to secure material, with bids reaching $224 as early as Wednesday, and sellers offering limited validity on their offers.
Over 200 tonnes of APT and oxide business was reported to Metal Bulletin over the course of the week, with the effect of tightening the nearby spot market, and making further price gains likely in the coming weeks, sources said.
“Buyers have swept up all the prompt material or nearby on the water,” a trader source said.
The forward supply...