China’s APT Price Continues to Be Weak Due to Quiet Market

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten powder and ammonium paratungstate (APT) prices continue their weakness because the market has been sluggish recently and the flow of resources has been limited. 

Concerns about the global economic situation and downstream terminal demand have affected the enthusiasm for trading on the market. The buyer is now the one who dominates the transactions prices. In the short term, the whole trading atmosphere in the market is expected to be low. 

In the tungsten concentrate market, due to the expected reduction in the supply of mines at the 20th National Congress, the pressure on market resources is limited, but the weak back-end stocking willingness has resulted in no improvement in market transactions. Mainstream offers will mainly hover around $17,230.8/ton. 

In the APT market, the fundamentals are under pressure, the macro sentiment is not good, and market participants are slightly panicked. Manufacturers and traders are destocking. APT price is weak at around $285.8/mtu with limited deals concluded. 

In the tungsten powder market, affected by declined raw material prices, weak downstream demand, external conflict between Russia and Ukraine, the intensifying energy crisis in Europe and the increase in the global currency tightening expectation, market participants are negative about the outlook. 

In terms of macroeconomics, the International Monetary Fund (IMF) predicts in the latest World Economic Outlook Report that the global economy will grow by 3.2% in 2022, the same as the July forecast, down 0.2 percentage points from the July forecast. Global inflation is expected to rise from 4.7% in 2021 to 8.8% in 2022, but fall to 6.5% in 2023 and 4.1% in 2024.

Prices of tungsten products on October 14, 2022

Picture of tungsten trioxide 

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