Chinese Tungsten Market Is Expected to Come Under Downwards

Analysis of latest tungsten market from Chinatungsten Online

The Chinese tungsten market is expected to come under downwards pressure from a possible auction of ammonium paratungstate (APT) stocks from the bankrupt Fanya metal exchange.

The country's Yunnan government is likely to post 29,651t of APT stocks next week for auction on domestic e-commerce platform Alibaba, market participants said.

The intermediate court of Kunming, the capital of Yunnan province, on 15 August posted 18,661t of antimony metal, 149t of dysprosium oxide and 4t of terbium oxide for auction at the end of this month.

The starting price for the tungsten auction is likely to be 20-25pc lower than spot prices, which have been unchanged at 110,000-112,000 yuan/t ($15,520-15,800/t) since 8 August. Suppliers have kept offer prices firm and reduced output amid tighter profit margins. Spot trading activity has been weak with most market participants observing the market because of the possible auction.

Prices of tungsten products on Aug. 27, 2019

Picture of APT powder 

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