China’s APT Price Tends to Rise on the Increase in Long-term Contract Prices for Late June

Details: Category: Tungsten's News; Published on Wednesday, 29 June 2022 18:51

Analysis of latest tungsten market from Chinatungsten Online

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The ammonium paratungstate (APT) and tungsten carbide powder prices are unchanged from the previous trading day on June 28, 2022 because most insiders are willing to maintain current offers considering the pressure of price inversion.

The high temperature and flood season since June as well as manufacturing taking the initiative to reducing production have weakened the pressure on the supply side. Tungsten concentrate and APT suppliers have relatively low acceptance of back-end bargaining. At the beginning of the week, long-term contract prices from large enterprises rebounded, which further stimulates the market’s rised mentality. High-grade concentrate price was tested to $16,923.1/ton and APT price was consolidated at $292.0/mtu.

However, the recent interest rate hikes by major overseas economies show that the supply chain disruption and inflationary pressures in the international market due to the epidemic and the conflict between Russia and Ukraine have caused a great negative impact on the commodity market due to the external economic recession risk. As a result, the tungsten product industry, which relies on exports to a certain extent, has to face the risk of global stagflation, resulting in insufficient market confidence and poor demand performance.

China's measures to stabilize growth and incentive policies for enterprises have alleviated the pressure brought by risks in the international market to a certain extent, but the recent high temperature weather has a certain impact on upstream and downstream operations. The release of raw material production capacity and the back-end procurement and replenishment remain cautious, and the market remains in a stalemate.

Prices of tungsten products on June 29, 2022

APT price photo