China grants CMOC tungsten export license for 2020-2021
China has allowed China Molybdenum Co (CMOC), the winner of the recent auction of ammonium paratungstate (APT) stocks held by the defunct Fanya Metal Exchange, to export tungsten in 2020-2021, according to the Ministry of Commerce.
CMOC won 28,336 tonnes of Fanya’s APT stocks
in an auction held in September last year.
The amount represents an estimated three months of Chinese output.
The purchase had initially bolstered sentiment in the market
amid expectations the material will not flood the spot market anytime soon.