SMM Data: China’s APT Output In August And Forecast For September

SHANGHAI, Sep 12 (SMM) – According to incomplete statistics from SMM, the production of APT in China in August 2023 was approximately 11,200 mt, representing an increase of 1.6% MoM.

In August, the weak demand for tungsten continued both domestically and internationally, and the APT market maintained a low inventory operation with a focus on essential purchases. Some smelters chose to shut down for maintenance during this period, which reduced the output of APT to some extent. In addition, as the tungsten price slightly increased in the context of a rising tungsten concentrate market in August, some APT refining enterprises followed the trend and raised their prices, which eased the inverted pricing situation. As a result, the production of some smelters increased. With fluctuations in both directions, the production of APT in August remained basically unchanged compared to July.

Entering September, the tungsten market will move out of the traditional offseason, and terminal consumption is expected to further recover with support from various policies. It is predicted that the production of APT may have a small increase this month.