Asian Metal News
Jiangxi Zhangyuan Tungsten suspended APT production in mid-November in the wake of strong concentrate prices narrowing margins for APT producers. A date to resume operations has yet to be decided.
According to a company representative; ‘We are working on long-term contracts and some APT tolling business at present.” The company sold 300 t of APT in November 2020 under the long-term contract price of RMB125,000/t ex-works by cash. ‘Spot transactions were few and we are bearish about market prospects given strong tungsten concentrate prices’, the source added.
Designed with an annual APT capacity of 10 ktpy, Zhangyuan Tungsten produced 200 t of APT in November, 700 t in October. The company produced 8 kt of APT in 2019 and 6 kt in the year to date. It currently holds 1 kt of APT in stock, the same amount as last month.
Mainstream APT prices are between RMB126,000~128,000/t ex-works in cash at present, holding steady from last week. Prices are expected to continue stable next week, shored by strong tungsten concentrate prices.