China Tungsten Market Is Waiting for the Auction of Fanya APT Stocks

The ferro tungsten and ammonium paratungstate (APT) prices in China are unchanged from the previous trading day as the auction of Fanya APT stocks, new guide prices from large companies and institutions, and demand in the golden September and silver October remain unclear. The whole tungsten market now is caught in wait-and-see atmosphere at the beginning of September.

From 10:00 on September 16th to 10:00 on September 17th, 2019 (except for the delay), 28,336.347 tons of APT  involved in the bankrupt Fanya Metal Exchange will be auctioned. Some people worrying low starting prices of 86,400 yuan/ton may hit the market while most of insiders expect the auction to help the market stabilize. At present, the market is waiting for the auction results that would greatly impact the market.

Post time: Sep-05-2019

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