China’s APT Price Rose to $295.5/mtu with Limited Deals Concluded

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained stable in the week ended on Friday, July 15, 2022 with the support from the cost despite the demand and financial pressures under high inflation affect the buying interest of traders, especially their intention to receive high-price resources. 

Tungsten concentrate price hovered around $16,923.1/ton and sellers were not willing to sell them at low price. meanwhile, sales were greatly affected by the COVID-19, the conflict between Russia and Ukraine, and the deglobalization measures of advanced economies.

APT price tried to rise to $295.5/mtu with limited deals concluded. Smelting factories faced pressure of price inversion and thus reduced their operating rate in July. The whole market kept quiet. 

In the tungsten powder market, the price stood at 439.2/kg with different attitudes towards the outlook. Some of them are worried that the external economic and trade environment will tend to be tense, while others are more optimistic about the positive effects of domestic downstream infrastructure investment acceleration measures on demand. There is no obvious increase in short-term market trading, and the consumer market is still under pressure.

On the macro side, (1) the US inflation rate exceeded expectations, the increase in interest rate hikes in July may be related to the recovery of interest rate hikes, and the pressure of global economic recession has increased. The U.S. CPI rose 9.1% year-on-year in June, hitting a 40-year high. Among them, energy prices rose 41.6%, food prices rose 10.4%. (2) Under the complex global situation, the logistics and transportation industry are hindered, but the demand data of China's transportation services is still positive compared to overseas. The Chinese Academy of Sciences' Predictive Science Research Center expects that the growth rate of container throughput of Chinese ports will decline year-on-year in 2022, but it is expected that China will still account for nearly half of the world's top 20 container ports, and 7 of the top 10 are from China. (3) China's measures to stabilize growth and prevent inflation are conducive to stabilizing the healthy operation of the market. The National Development and Reform Commission pointed out that although there are still many factors of global instability, China's annual CPI target of around 3% is achievable.

Prices of tungsten products on July 18, 2022

Picture of tungsten trioxide 

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