China’s Xiamen Tungsten Increased APT Bid Price for the Second Half of January

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and tungsten powder prices in the Chinese market continue to be in the upward trend in the middle of January, 2022 despite of cautious sentiment of participants.

Fortunately, the strong national economic data and a new round of bid prices on behalf of tungsten companies have boosted traders' sentiment towards the market, and the overall tungsten market offers remained at a relative high level. 

China’s Xiamen Tungsten quoted APT bid price at $313.9/mtu, up $9.9/mtu compared with the first half of this month. 

Recently, the spread of the epidemic and the frequent occurrence of extreme weather events have continued to impact the consumer market. However, based on the strong national economic performance data in 2021 and the expectation that the economic growth will slow down in 2022, it is still in an upward trend. Market demand and business confidence will still be disturbed by the epidemic, but the industry's overall positive expectations remain unchanged.

Statistics from the Bureau of Statistics show that in 2021, China’s gross domestic product (GDP) will grow by 8.1% year-on-year, which is higher than the level previously expected by officials and various sectors. China's total economic volume has reached 17.7 trillion US dollars, ranking second in the world. Its per capita GDP has exceeded 12,000 US dollars, exceeding the world's per capita GDP level. The high-tech and equipment manufacturing industries have performed well, and the scale of foreign trade import and export and investment has also increased.

Prices of tungsten products on January 19, 2022

Picture of ammonium metatungstate

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