China’s APT Price Stabilizes in the Middle of February 2023

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten market was in a stalemate with slow price increase and more manufacturers considering profit-taking. Since the beginning of this year, economic recovery expectations have continued to be revised upwards, but consumption data has not been released in batches during the repair cycle and under the influence of high raw material costs.

The price of tungsten concentrate is consolidating around $18,769.2/ton. After the Lantern Festival, the market resources are released relatively smoothly, but relatively speaking, the pressure on inventory is not obvious. Sellers still have rised mentality and are waiting for the status of demand. 

The APT price consolidates at about $318.1/mtu as the market cost support is still strong. Affected by the mentality of partial profit-making shipments, the overall transaction prices declined slightly and the active atmosphere in the market was limited.

The tungsten powder price is hovering around $42.9/kg, and it is difficult to implement the high quotation on the market transactions. However, based on the promotion of cost, the market maintains a high level ordering situation, and waits and sees the exact situation of the upward revision of the demand for cemented carbide.

Ferro tungsten price remains at a stalemate at the $27,692.3/ton mark. Raw material prices pulled up costs, and the expected increase in steel demand in the context of economic recovery supported the price of ferro-tungsten to remain relatively high. However, the implementation of transactions was limited, and market transactions were mostly on the sidelines.

On the macro level, due to the effects of the Spring Festival combined with the optimization of epidemic prevention and control measures and other factors, the consumer prices of Chinese residents have been raised. According to data from the Bureau of Statistics, the national CPI in January rose by 0.8% month-on-month and 2.1% year-on-year. Due to fluctuations in international crude oil prices and the decline in domestic coal prices, the prices of industrial products in China continued to decline. In January, the national PPI fell by 0.4% month-on-month, and the rate of decline narrowed by 0.1 percentage points from the previous month; it decreased by 0.8% year-on-year, and the rate of decline expanded by 0.1 percentage points from the previous month. 

Prices of tungsten products on February 14, 2023

Picture of blue tungsten oxide 

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