Chinese Exporters Held Firm Offers of APT Given Strength in the Yuan

Details: Category: Tungsten's News; Published on Friday, 13 November 2020 17:21

Analysis of latest tungsten market from Chinatungsten Online

Chinese ammonium paratungstate (APT) export prices held in a persistently weak overseas market; few deals were concluded within the assessed range. Chinese exporters held their offers firm given strength in the yuan despite the lack of inquiries.

The tungsten concentrate market continued to be quiet with heavy wait-and-see atmosphere, but suppliers were reluctant to sell considering low operating rate of mining enterprises. For the tungsten powder market, it received few inquires from overseas markets, and its export was sluggish in early November. The short-term market is expected to continue this situation.

Statistics from China’s Bureau of Statistics show that National Producer Prices (PPI) fell by 2.1% year-on-year in October 2020, unchanged from the previous month; the IPI fell 2.4% year-on-year and rose 0.2% month-on-month. On average from January to October, the PPI fell by 2.0% over the same period last year, and the IPI fell by 2.6%.

Prices of tungsten products on November 12, 2020

APT export price image