China’s APT Market Is Under Pressure with the Impact of Repeated COVID-19

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and tungsten carbide powder prices in the Chinese market remain weak in the first trading day in November 2022 with the impact of low trading activity, limited operating rate of producing enterprises and heavy wait-and-see atmosphere in the market. 

The tungsten concentrate market is stable. Mining enterprises are not will to reduce price and most trading price is below $16,176.5/ton; The APT market is under pressure with the impact of repeated COVID-19, and price is mainly hovering around $277.5/mtu; tungsten powder market is weak as well because the consumption of downstream tungsten carbide and its alloy products is not active. 

On the macro level, the current global economic situation is affected by the repeated epidemics, the conflict between Russia and Ukraine, high inflation, and the US dollar interest rate hike. Meanwhile, the general strikes in the United States and Europe and other places around the world have exacerbated the tension of market logistics capacity.

External demand drags down domestic demand with insufficient momentum. According to data from the Bureau of Statistics, in October, China's manufacturing PMI was 49.2%, down 0.9 percentage points from the previous month, lower than the critical point; non-manufacturing PMI was 48.7%, down 1.9 percentage points from the previous month. The composite PMI output index was 49.0%, down 1.9 percentage points from the previous month.

Prices of tungsten products on November 2, 2022

Picture of tungsten trioxide 

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