- APT and oxide supplies continue to tighten while Chinese output slows
- Sellers decline to offer intermediates due to concerns over replacement cost, availability
- Profit-taking prompts fall in European ferro-tungsten prices
Prices for tungsten raw materials rose in Europe and China last week, with market participants citing stoppages to production in China and subsequent tightness as the primary reasons for the increase.
Production halted during the Chinese New Year break in mid-February and some operations are yet to restart while the two sessions of China’s National People Congress and Chinese People's Political Consultative Conference (CPPCC) are taking place.
“Sellers have held back as some miners were ordered to stop producing before the beginning of the CPPCC on March 3... the local government stringently controls the use of explosive materials to avoid accidents during the two sessions,” a producer told Metal Bulletin.
Metal Bulletin assessed...