At the same time, prices in the country’s upstream tungsten concentrate are said to be on a similar upward trajectory.
Chinese APT producers have been in a difficult situation in recent months, dealing with elevated raw material prices, weak downstream demand and a sluggish export market. Indeed, several APT refineries in the country either suspended operations or cut output as a result, Fastmarkets understands.
Consolidating at 121,000-122,000 yuan per tonne for around a month, participants believe that the APT market has formed a strong base and that a round of purchases from the downstream tungsten powder industry triggered the recent price increase.
Limited supply of raw materials at powder plants
APT is an important raw material for tungsten powder, which is processed to produce cemented carbide. Cemented carbide is a hard material extensively used to manufacture cutting and drilling tools.
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