China’s APT Price Edges Higher on the Increase in New Guide Prices

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices edge higher on December 7, 2022 with the impact of the increase in new guide prices from listed tungsten companies. 

The demand market continues to focus on on-demand consumption. At the end of the year, some stocks will enter the market to ease the overall pressure, but the sustainability remains to be seen. Regarding external risk factors such as the epidemic, geopolitical conflicts, and monetary tightening measures, etc., they are still complex and changeable. Under the pressure of economic contraction in the manufacturing industry, the alloy end of the tungsten industry is also difficult to stabilize.

In the tungsten concentrate market, mainstream offer is adjusted above $16,176.5/ton, and holders are reluctant to sell to support the market. The recent adjustment of epidemic prevention and control measures has eased the pressure on market circulation to a certain extent, but the supply and demand of the tungsten market is still deadlocked, so it is expected that the market adjustment space is relatively limited.

In the APT market, mainstream offers are around $280.8/mtu, and the attitude of smelters to support the market has moved up with the cost side, while buyers are still mainly negotiating prices on demand when receiving goods. Market participants are mainly waiting for further news from demand and supply sides. 

In the tungsten powder market, mainstream offers are $40.4/kg. Participants reported that the enthusiasm for high-level transactions is still average. Affected by the pressure of the global economic downturn, the downstream terminal consumption initiative is not good, and the on-site transactions are mainly based on demand. The stocking work at the end of the year is also relatively cautious. As the pressure of epidemic control eases, the circulation of waste tungsten resources is expected to gradually stabilize.

On the macro level, according to data from the China Federation of Logistics and Purchasing, the global manufacturing PMI in November 2022 was 48.7%, a decrease of 0.7 percentage points from the previous month, a month-on-month decrease for six consecutive months, and below 50% for two consecutive months. Among them, Asia and the Americas fell below 50%; Europe remained below 48%, a slight rebound from the previous month; Africa rose slightly, slightly higher than 50% for two consecutive months.

Prices of tungsten products on December 8, 2022

Picture of tungsten acid 

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