China APT Price Stabilizes as the Whole Market Trading Is Low

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices are weak in the middle of March 2023 as market participants are taking a watchful stance and the whole market trading is low. 

In the short term, market participants will wait and see the continued ferment of the Silicon Valley Bank bankruptcy crisis, as well as a new round of long-term quotations from several large Chinese tungsten companies.

In the tungsten concentrate market, mine production, operation and supply of raw materials have returned to normal after the Two Sessions, but the demand for downstream terminals has not improved significantly, especially under the interference of overseas financial risks, consumer sentiment has cooled down and market fundamentals are under pressure. 

In the short term, the market is expected to be weak but stable, and the high-grade resources will stalemate at about $18,307.7/ton. However, Jiangxi, the main producing area, will focus on the rectification and regulation of protective strategic mineral resources such as tungsten, which will help optimize and adjust the market supply and demand pattern. The confidence of the holders in the future market will be boosted to a certain extent.

In the APT market, upstream miners are not willing to take the initiative to give up profits. At the same time, downstream users are mainly bargaining in receiving goods. Inquiries are generally under pressure. The overall market trading situation is stalemate as smelters are trying to avoid the risk of inversion. The APT price hovers around $309.4/mtu. 

In the tungsten powder market, affected by macro shocks, the wait-and-see mentality of cemented carbide companies has increased. The market transactions generally revolve around rigid demand, and new orders are limited. The industry is more cautious about the market outlook. 

Prices of tungsten products on March 15, 2023

China APT price image

Picture of tungsten needles 

tungsten needles image

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