China’s APT Price Stabilizes After the Holiday of New Year’s Day

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices are unchanged from the previous trading day on January 4, 2023 despite raw material manufacturers still have strong rised mentality. 

As the Spring Festival holiday approaches, the pressure of the spread of the Covid infection has increased. Recently, tungsten product manufacturers have increased their maintenance arrangements. Due to factors such as physical discomfort and tight logistics capacity, it is difficult for companies to start work and circulate spot resources. The tungsten market is temporarily stable and will continue to have prices but no sales. 

In the tungsten concentrate market, due to the slowdown of mining and smelting enterprises and the attitude of reluctance to sell and support the market, the market supply is generally in a tight state, while the consumer side still continues to focus on on-demand purchases. Now the market price hovers around $17,058.8/ton. 

In the APT market, the strong sentiment at the mine side supports the offer mentality of smelters, and the market intention price is generally above $292.5/mtu. The pressure of the recent epidemic has caused the factory to passively destock, and the buyers will stock up a small amount before the festival. The short-term market is more bullish. 

In the tungsten powder market, the cost is mainly driven by the high price adjustment. The industry expects that the first round of tungsten raw material guidance prices of institutions and large enterprises will show a positive state in 2023, while the cemented carbide and its downstream terminal market will mainly be adjusted passively, and the demand will be marginal. There is still room for improvement.

On the macro front, according to S&P Global data, the final value of the Markit manufacturing PMI in the euro zone in December 2022 is 47.8, which has rebounded from 47.1 in November. Although the data is still below the line of expansion and contraction of 50, experts believe that as supply chains begin to recover and inflationary pressures gradually ease, the darkest moment of manufacturing activity in the euro zone may have passed.

Prices of tungsten products on January 5, 2022

Picture of tungsten trioxide 

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