China’s APT Price Stabilizes at the End of August 2022

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and ammonium paratungstate (APT) prices in the Chinese market continue to keep stable on August 25, 2022 as the whole market remains quiet. 

Insiders considered that market supply is expected to increase with the recovery of the operating rate after factory maintenance and production reduction. After September, driven by factors such as heatwave easing, the end of overseas summer vacation, and further implementation of domestic economic stabilization measures, the consumer market is expected to gradually recover. However, the market is still worried about the pressure of economic recession in the context of high inflation, as well as instability such as the epidemic and geopolitics risk.

At present, the price of tungsten concentrate is consolidating at around $18,461.5/ton with rare deals concluded; APT price is about $312.9/mtu and tungsten powder price stabilizes at $41.5/kg. 

On the macro side, (1) according to CCTV news reports, Europe is experiencing the worst drought in 500 years, and has yet to see signs of drought relief. About 47% of the region is at risk of drought, and another 17% is on a more severe alert. Compared with July, these two figures increased by 3 percentage points and 8 percentage points respectively. (2) The high temperature record in some parts of Sichuan has been refreshed again, reaching 44°C. Currently, photovoltaic power generation is being used to alleviate the contradiction between power supply and demand. (3) The WTO Trade in Goods Barometer shows that the volume of global trade in goods has stabilized, that is, the growth of global trade has stagnated. In the first quarter of this year, the year-on-year growth rate slowed to 3.2%. In the second quarter, global trade in goods continued to grow, but the growth rate was lower than that in the first quarter. The WTO expects global trade in goods to grow by 3.0% in 2022, but there are many uncertainties.

Prices of tungsten products on August 26, 2022

Picture of tungsten needles 

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