Wuxi Stainless Steel Exchange launches APT contract

The Wuxi Stainless Steel Exchange launched an electronic trading contract for ammonium paratungstate (APT) with the trading code APT2105 on Friday February 5.

For this new contract, the delivery period is May 2021 and the last trading day is May 17, 2021 with the deadline for delivery of bill of lading of May 18, the exchange said.

The trading hours for this contract are 8:30-11:30 each trading day.

The quality of APT traded on the contract is aligned with China’s national standard GB/T 10116-2007 and the grade is APT-0.

Sources told Fastmarkets they will consider whether to participate in this electronic trading after the Lunar New Year holiday (February 11-17).

The Wuxi APT contract closed daily trading at 140 yuan ($21.64) per kg on Friday.

China’s physical domestic APT market has been robust recently, with the spot price rising to 138,000-139,000 yuan per tonne this week, compared with 136,000-137,000 yuan per tonne a week earlier, according to market sources.

Sources told Fastmarkets that the uptrend in China’s domestic APT price would continue given healthy demand from the downstream tungsten powder and alloy industries as well as tightening availability of the material in overseas markets.

This bullishness fed into the Chinese APT export market and Fastmarkets’ weekly price assessment for tungsten APT 88.5% WO3 min, fob main ports China was $248-254 per metric tonne unit (mtu) on Wednesday February 3, up by $1-5 per mtu (1.2%) from $243-253 per mtu a week earlier. 

What to read next
A bullish consensus formed last week in Shanghai as leading market participants met for the annual CPICC conference and Shanghai Pulp Week. Meetings were held against the backdrop of growing concerns around market pulp and woodchip supply, while questions remained around the strength of underlying demand. Heading into the week, the rally in pulp prices […]
The March 2024 monthly averages were published today based on the index values of March 1, 8, 15 and 22.
Recent developments in China’s pulp and paper industry, notably the divestment of the Anhui Huatai pulp mill, prompted a closer examination of the dynamics of swing pulp lines, particularly the delicate balance between dissolving wood pulp and paper grade wood pulp. The Anhui Huatai pulp mill, which suspended production in the first half of 2023, […]
China’s manufacturing sector is overtaking its construction sector in driving the country’s demand for steel, in a shift that is expected to benefit flat steel products more than long steel ones, an industry expert said at an industry conference on Friday March 22
Producing battery-grade manganese sulfate in China is “logical” even for non-Chinese companies, due to the country’s strong demand and cost competitiveness, according to the chief executive officer of emerging Australia-headquartered producer Firebird Metals
Market participants seem to have abandoned expectations of a “Golden March and Silver April” in China’s ferrous market due to a slow restart of construction, as well as maintenance of steelmaking facilities planned for March, sources told Fastmarkets