China’s Ammonium Paratungstate Price Becomes Weak in Late April

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten carbide powder and ferro tungsten prices remain weak adjustment in the second half of April with the impact of COVID-19 and geopolitical risks in the world. but given the high cost, the price adjustment will be limited. 

In the tungsten concentrate market, high grade concentrate was quoted at about $19,354.8/ton despite of low acceptance of buyers. Traders still have good expectations for supply costs under the good development of a low-carbon economy, but their expectations for demand are not clear. There is still a game between the market cost and demand, and the release of trading volumes is limited.

In the ammonium paratungstate (APT) market, the price is hovering around $328/mtu. Participants have different views towards the outlook. Some are worried that the prices of energy and auxiliary materials will not fall in the context of rising global prices, and others are worried that the consumption of back-end compounds and alloys will continue to be affected by supply chain disruptions and logistics and transportation obstructions.

In the tungsten powder market, it was expected before May that consumption in automobiles, integrated circuits and other fields would continue to be affected by the epidemic, resulting in a weakening of demand in the upstream alloy field, affecting the slowdown in the consumption of powder by related companies, and thus loosening the confidence of traders. The price is expected to be adjusted to $44.8/kg. 

On the macro front, according to The Wall Street Journal, economic growth in most parts of the world is slowing as companies struggle to cope with the Russia-Ukraine conflict, the lockdowns triggered by the new crown epidemic, and high inflation. Economies' purchasing managers' indices have been revised down to varying degrees. The International Monetary Fund warned that the war in Ukraine would exacerbate economic tensions caused by the outbreak, while lowering its forecast for global economic growth to 3.6 percent, nearly halving from last year's 6.1 percent.

Prices of tungsten products on April 26, 2022

Picture of tungsten ore 

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