GLOBAL TUNGSTEN WRAP: Chinese APT price drops on limited buying interest; ferro-tungsten price flat in China, Europe

The earlier uptick in the Chinese ammonium paratungstate (APT) price faltered in the week ended Friday December 14, while both European and Chinese ferro-tungsten markets were stable due to the end-of-year trading lull.

APT fob price in China moved down due to low overseas buying interest amid falling prices in the domestic market.  Chinese tungsten concentrate price unchanged.  Ferro-tungsten prices in China and Europe were flat week on week. Fastmarkets MB assessed the fob China ammonium paratungstate price, min 88.5% WO3, at $272-285 per tonne on Wednesday December 12, down from $275-287 per tonne the previous week. Some suppliers, keen to reduce their inventories for book-squaring ahead of year-end, have offered material at lower prices in an attempt to close a deal. But other suppliers have held back, taking a watchful stance due to fluctuations in the yuan/dollar exchange rate, which could affect the profitability of ammonium paratungstate exported from China. The yuan/dollar exchange rate was 6.8829 to the dollar on December 12, compared with the week’s low of 6.9016 on December 10, according to foreign exchange site Oanda.com. “We...

Published

Chris Kavanagh

Huaqing Fu

December 18, 2018

10:20 GMT

Shanghai, New York