China’s Ammonium Paratungstate Price Remains Weak in Early November

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate and tungsten carbide powder prices continue its weakness on November 3, 2022 because recent repeated epidemic in Zhengzhou and Fuzhou provinces have intensified the concerns of the industry about the restoration of the market economy.

In the tungsten concentrate market, some mines resumed operation after the October meeting, and the market supply and demand continued to be under pressure. However, with the support of cost, the holders of goods were not willing to negotiate profits, and the release of low-level resources was limited. In the short term, concentrate offers will mainly focus on $181.1/mtu. 

In the APT market, the positive news from the upstream and downstream of the industrial chain is limited. Smelters continue to purchase, sell and produce cautiously. The external quotations are close to the latest long-term contract prices of listed tungsten companies

In the tungsten powder market, the consumption enthusiasm of the cemented carbide end is not high. Due to the pressure on the demand side and the capital side, the powder manufacturers have made a steady decline in their offers.

On the macro front, the Federal Reserve raised interest rates by 75 basis points for the fourth time in a row, and the benchmark interest rate has risen to the range of 3.75%-4.00%, the highest level since the 2008 financial crisis. With inflation still well above its 2 percent target, the Fed is not considering a pause in rate hikes, but has signaled a slowdown in rate hikes. Its tightening monetary measures will still take a toll on the global economy.

Prices of tungsten products on November 4, 2022

Picture of tungsten heater 

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