China’s Xiamen Tungsten Lowered Down APT Bid Price for Early November

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten powder and tungsten bar prices continue to decline with the impact of low buying appetite of downstream, quiet market as well as the decline in guide prices for the first half of this month. 

China’s Xiamen Tungsten quoted APT bid price at $274.2/mtu, down $5.0/mtu compared with the second half of October. 

In the tungsten concentrate market, offers of high-grade resources fell below $16,176.5/ton. Although sellers tend to stabilize the market, downstream end users are not active in purchasing. The whole market is in a stalemate. 

In the ammonium paratungstate (APT) market, traders declined their offers in accordance with long-term contract prices released by large tungsten companies. As cost of smelting remains at a high level, mainstream offers hover around $277.5/mtu. 

In the tungsten powder market, the stagnant supply chain, the tightening of funds, and the sluggish demand have made the current alloy and powder raw material market under pressure. The mentality of traders seems to be negative and transaction prices are below $37.5/kg. 

Macroscopically, the current high international inflation has not been effectively alleviated, especially the transmission of the European energy crisis, and the overseas economy is facing serious recession risks. According to data released by Eurostat, the gross domestic product (GDP) of the euro area and the European Union both grew by 0.2% in the third quarter. Affected by the situation in Ukraine, energy and food prices in the euro area continued to soar, and the inflation rate in October reached an annual rate of 10.7%, hitting a new record high and exceeded market expectations.

Prices of tungsten products on November 3, 2022

Picture of tungsten powder 

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