The winning offer price came after 135 rounds of bidding, according to official auction results posted on the Alibaba judicial online platform. China Molybdenum’s final bid was 820 million yuan higher than the opening amount.
This is equivalent to around 115,340 yuan per tonne, according to Fastmarkets’ calculations, and is close to the current spot market price in China.
The Chinese domestic price for APT stood at around 115,000-117,000 yuan per tonne before the auction, according to market sources.
The 28,366 tonnes of APT held in Fanya's warehouses represent an estimated three months...