SMM analysis on China June ammonium paratungstate (APT) output and July forecast

According to SMM, China's APT production in June was approximately 9,800 mt, up 7.1% MoM.

In June, as environmental protection inspections in major APT production areas concluded, smelters began to gradually resume operations in mid-June, leading to an increase in APT production.

Heading into July, the domestic and international tungsten markets entered the off-season. Downstream demand for tungsten stayed stable, providing weak support for tungsten prices. Additionally, APT smelters are primarily fulfilling long-term orders from earlier periods, with few retail orders amid losses. Therefore, APT production in July is expected to stabilise.