Price outlook

摘要

The persistent stalemate in China's tungsten market is likely to continue in the coming weeks, with key consumers rolling over first-half June bid prices and Jiangxi Tungsten keeping concentrate offers firm. Prices for 88.5pc grade ammonium paratungstate (APT) were stable at 146,000-148,000 yuan/t ex-works on 29 April-7 June, with limited spot liquidity, as most smelters were committed to supplies for long-term contracts after restarting production in May following a one-month production suspension caused by anti-pollution inspections. Beijing's anti-pollution teams entered Jiangxi province on 9 April-9 May, which forced many APT producers in Ganzhou city to halt or cut production against the checks.