APT Prices

Not surprisingly, APT prices have followed the general downward trend in metal prices over the past 12 months and, more recently, China's announcement to abolish its export tax on tungsten and other noble metals effective from May 2015 might have put further pressure on tungsten prices. Current APT prices for container load cargoes in R'dam are ard US$250 / mtu down from US$365 / mtu in March 2014. However, this still leaves a comfortable margin on Wolf's All In Sustainig Costs (AISC) of US$128 / mtu plus Debt Service of US$42 / mtu = Total US$ 170 / mtu. What is not quite clear to me is whether the numbers Wolf provide refer to tungsten concentrate or have they been already converted to APT to ease comparison. Does anybody know?