Spain-focused tungsten company W Resources could remain profitable even at an ammonium paratungstate (APT) price in Europe below $200 per mtu

　　This is one of the key messages from the company, whose La Parrilla fast track mine operations will be in production from mid-2016, especially as signals from the spot market are not indicative of price rises in the near future. Spot buying of APT in Europe has been relatively thin in recent weeks and prices have edged down gradually from highs of $335 at the beginning of the year, to lows of $225 as of June 19. News from China has added to the bearish tone in the market, as the Ganzhou Tungsten Assn lowered its June average price forecast from 130,000 yuan ($21,229) per tonne in May to 123,000 yuan ($20,086) per tonne, or about $200 per mtu. Michael Masterman, chairman of W Resources, believes about $320 per mtu is likely to be a "reasonable long-term price"