China Tungsten Prices Rose As Fanya Stocks Auction Exceeded Expectations

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have risen steadily with the end of Fanya stocks auction. At present, the market is supported as bidding prices exceeding market expectation boosts confidence of traders. The tightening availability of tungsten raw materials make product prices rise and downstream smelting factories are reluctant to sell products. Although inquiry becomes active, transactions need to be followed up. 

According to the news, the auction of ammonium paratungstate (APT) stocks from the bankrupt Fanya metal exchange came to an end on Sep, 17, 2019. China Molybdenum successfully captured 28,336.347 tons of ammonium paratungstate at a price of 3,268,260,380 yuan. The bid price was about 135,338 yuan/ton. Two people participated in the auction, and the bidding record was as high as 135 times. The transaction price was higher than the starting price of 820 million yuan. The bidding price is close to the current market price, which is generally higher than market expectations, reflecting the good confidence of bidders in the tungsten industry.

Prices of tungsten products on Sep. 19, 2019

Picture of tungsten powder 

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