APT export prices rise further

BEIJING (Asian Metal) 10-Jan-05. APT prices continue to rise this week due to high production cost and limited supply, Chinese smelters reported to Asian Metal.

"Since the prices of tungsten concentrates stand firm at above rmb43,000/t ($79.99/mtu), the production cost for APT remains high. It is hard for us to gain reasonable profits even we trade APT at $97/mtu," said a smelter in Hunan province, reporting that the company has enhanced quotation for APT to $99/mtu yesterday.

Meanwhile, an official at Jiangxi Tungsten Group disclosed that the company is quoting APT at rmb100/mtu for the moment. "In view of the current high cost, we have to offer the material at such a high price," said the source, claiming that the company would not accept any bid of less than $100/mtu.Asian Metal Copyright99mtu, the production cost for APT remains high.Asian Metal Copyright

However, it is really hard for foreign buyers to take this offer for a time being. "The orders from foreign buyers were quite few recently, as Chinese suppliers raised offers for APT from 95/mtu to $100/mtu within only two weeks.Asian Metal Copyright "We would rather put our APT into warehouse than sell it at low prices," said the source, believing that foreign buyers would pay as high as $100mtu for Chinese APT sooner or later.Asian Metal Copyright It would take some time for them to accept higher prices," said a smelter in Jiangxi province.

He thought that the price of $100/mtu would be realized in the coming weeks. "We would rather put our APT into warehouse than sell it at low prices," said the source, believing that foreign buyers would pay as high as $100/mtu for Chinese APT sooner or later.