APT export market slow in China

BEIJING (Asian Metal) 17 Aug 06 – Although APT prices have began to rise since a fortnight ago in China, the export market remains dull as western consumers have no interest in purchasing.

Participants reported that APT prices in China rose to around RMB180,000/t (USD257/mtu) this week, compared to RMB168,000/t (USD240/mtu) early August, but the export prices stabilize at around USD255/mtu FOB.

“Impacted by the summer vacation, the European market is quiet as usual,” said a source from a Chinese APT smelter. “Meanwhile, I learnt that most American consumes purchased large quantities of APT in the first half of this year, leaving the market quiet in the second half.”

As the tungsten concentrate prices rose above RMB115,000/t (USD224/mtu) in the domestic market, the smelter raised its APT price to around RMB255/mtu FOB from previous RMB250/mtu, but few deals have been concluded, added the source.

A Chinese trader told Asian Metal that the APT export market is stable with the prices at around USD255-260/mtu FOB. “We mainly export the APT to regular consumers by long-term contracts, so the price is relatively stable.Asian Metal Copyright“Impacted by the summer vacation, the European market is quiet as usual,” said a source from a Chinese APT smelter.Asian Metal Copyright”

The source acknowledged that the export market is not active influenced by the summer vacation, but the source believes the market will climb up gradually in the coming months as overseas consumers need raw materials for the production in the fourth quarter.