Sentiment in the ammonium paratungstate (APT) market improved in the week ended Friday September 20 following a successful auction of the entire stock of tungsten held by the defunct Fanya exchange, while concentrates prices jumped by another 2.6% with support from continued supply tightness.
Successful Fanya APT auction supports Chinese, European markets Concentrates prices continue to rise on tightening supply Ferro-tungsten price falls again on limited spot activity.Fastmarkets' price assessment for tungsten APT, 88.5% WO3 min, Europe, cif Rotterdam duty-free, remained on September 20 at $195-205 per mtu, a low last seen in January 2017."Everybody was waiting to see what would happen with the Fanya auction and had been destocking," a European trader said. "But if you didn't buy last week, I expect you've 'missed the boat'."Market sources reported an increase in inquiries since the awarding of the Fanya APT stock auction early last week provided clarity on the status of the material formerly held by the now-defunct exchange. Most believed that the sale had set a floor price for the market, but also said that as yet there had been little in the way of fresh...