Tight raw materials, scrap supply push APT prices to near two-year highs

Tight supply of tungsten concentrate and tungsten scrap has pushed intermediate prices to nearly two-year highs in February amid a pick-up in end-user demand, market sources told Fastmarkets.

Fastmarkets assessed the tungsten APT, 88.5% WO3 min, cif Rotterdam and Baltimore price at $260-265 per metric tonne unit (mtu) on Friday February 26, up 4% from  $250-255 per mtu one week earlier.
The price moved up by 6.1% in February and is 12.9% higher than at the beginning of the year, when it stood at $230-235 per mtu.
"There is nothing available in Europe, and China is not able to ship till April," a supplier in Asia said. "Chinese suppliers don't have any material available, yet with most miners not back fully from the Chinse New Year holidays. There is still a deficit in concentrates production."

The APT market in Europe is trading at its highest level since June 2019,...

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