Chinese tungsten Concentrate Price Rose in Late June on Safety Inspections at Mines
- Category: Tungsten’s News
- Published on Wednesday, 30 June 2021 09:42
Analysis of latest tungsten market from Chinatungsten Online
Rising Chinese tungsten concentrate price, driven up after safety inspections at mines restricted supplies, has led to an increase in ammonium paratungstate (APT) prices as producers responded to the higher feedstock costs.
In addition, the increase in bid prices from state-owned companies and average tungsten forecast prices from associations also shored up market confidence. Manufacturers both downstream and upstream would like to raise their offers, but affected by continued weakness of demand, deals were difficult to be concluded at high level.
China, with safety checks carried out across the country. Companies were also required to implement self-inspections to ensure they have abided by regulations. The supply of raw materials thus reduced and production costs increased. The market was in a stalemate.