China APT Price Stabilizes in Early November Affected by US election

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and ammonium metatungstate (APT) prices in China maintain stability in the first trading day on November 2, 2020 affected by many uncertainties in the world such as the US election, Brexit, and worsened coronavirus in European countries. 

Industry insiders mainly hold negative sentiment and their enthusiasm for trading has decreased. Due to the support of resource costs, raw material holders are reluctant to sell at low prices to stabilize the market. However, buyers are still worried about the demand situation and the willingness to receive goods is not high. In the short term, the market is expected to continue its stability. 

The latest tax data show that the sales revenue of industrial enterprises nationwide fell by 0.9% year-on-year in the first three quarters of this year, and has basically returned to the same period last year. Among them, the third quarter increased by 9.2% year-on-year, which was an increase of 2.7 percentage points from the second quarter. From the perspective of industry sectors, the recovery trend of the manufacturing industry was the best, with manufacturing sales revenue in the third quarter increasing by 10.5% year-on-year.

Prices of tungsten products on November 3, 2020

Picture of tungsten acid 

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