FOCUS: No sign of recovery in Chinese tungsten prices despite CTIA’s call for tighter capacity control, lower concentrate output

A recent call from the China Tungsten Industry Association (CTIA) for its members to continue to tightly control capacity and to cut tungsten concentrate output by a further 10% this year has not yet had a positive effect on Chinese spot prices.

The CTIA made the call last week at an industry meeting, which included delegates from a number of major Chinese tungsten producers, with the aim of improving the balance between supply and demand in the country’s tungsten market, according to market sources. But the news has so far failed to yield any positive reaction from the market. Indeed, tungsten prices in China actually fell over the past week, according to Fastmarkets MB’s latest assessments. Fastmarkets MB assessed the China ammonium paratungstate (APT) export price at $250-265 per metric tonne unit on Wednesday May 22, down by $9-12 per mtu from $262-274 per mtu a week earlier. The price of Chinese tungsten concentrate similarly weakened, declining to 93,000-95,000 yuan ($13,464- 13,753) per tonne on Wednesday from 94,000-96,000 yuan per tonne a...

Published

Huaqing Fu

May 23, 2019

11:19 GMT

Shanghai