China’s APT Offers Are Stable with Rare Deals Concluded

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and tungsten carbide powder prices in the Chinese market continue to keep stable on February 23, 2023. Although the short-term market performance is relatively flat, the holders generally insist on bullishness.

The main bullish point of view stems from the recovery of China's economy and the scarcity of tungsten metal itself. At present, the recovery of demand in the tungsten market is still insufficient compared with the recovery expectations of the industry, so the trading situation in the market is slightly stalemate.

In the tungsten concentrate market, the two sessions are coming soon, and the release of mine resources will slow down. As the domestic economy and consumption recovery are expected to be positive, the mine end generally maintains an attitude of reluctance to sell and hope for growth. The price of high-grade tungsten concentrate sticks to $18,461.5/ton. 

In the APT market, the support of mines is relatively significant, and the room for smelters’ profit adjustment is limited. However, due to the sentiment of buyers to suppress prices recently, it is difficult to make progress in market transactions and negotiations. APT offers are stalemate at about $312.9/mtu with rare deals concluded. 

In the tungsten powder market, there are relatively strong positive expectations at the domestic macro level, but overseas uncertainties and risks still exist. The mentality of buyers is somewhat divided, which affects the market transactions. The market price is adjusting accordingly, and now temporarily stabilize at around $42.6/kg.

Prices of tungsten products on February 24, 2023

Picture of tungsten trioxide 

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