China’s crackdown on pollution
China’s crackdown on pollution has been one of the key factors influencing fundamentals and prices in the metals markets since last year.
The nationwide campaign against environmental violations has forced some smaller miners, smelters and flotation plants across 30 different Chinese provinces to close since the beginning of last year.
Environmental-related production halts at smelters in China’s Jiangxi province, a major tungsten production hub, began in April leading to supply tightness and rising ammonium paratungstate (APT) prices.
Metal Bulletin’s benchmark quotation for European APT had peaked this year at $350-354 per mtu on June 22. But prices have been retreating since the suspensions ended in July and more material entered the market, dropping more than 10% in August.
Metal Bulletin assessed European APT price at $275-290 per mtu on Friday September 21, unchanged week on week.
Meanwhile, fob China APT prices...