China’s Xiamen Tungsten Declined APT Bid Price for the First Half of April 2023

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices remained weak adjustment on April 4, 2023 with the decline in new guide prices for the first half of this month, which is in line with the current market despite of weakening market confidence. 

China’s Xiamen Tungsten quoted APT bid price for the first half of this month at $301.6/mtu, down $2.6/mtu compared with the second half of March. 

In the tungsten concentrate market, the rainy season is approaching, and the increase in mine supply is expected to be limited. However, due to the sluggish atmosphere in the demand market, as well as the suppressed fundamentals, the market continues to stalemate. The current market price consolidates at about $17,846.2/ton. 

In the APT market, affected by the decline in the long-term contract prices, the APT spot market showed a negative decline, and the price declined to $302.5/mtu. Due to the poor liquidity in the upstream and downstream of the industrial chain, the operating rate of smelters was relatively weakened, and the trading mentality was low as well. 

In the tungsten powder market, due to the weakened cost side and the slowdown in the demand for stocking of downstream terminals, market participants were worried about the market outlook. The tungsten powder price stood at about $41.1/kg. 

On the macro level, the Chinese market is expected to be stable and positive, and the recovery of economic and domestic demand confidence is relatively positive; the international market is expected to continue to be weak, the escalation of conflicts between Russia and Ukraine, the trend of monetary tightening, OPEC's unexpected production cuts and other unstable pressures are still severe, and the market has strong risk aversion. Against this background, it will take a long period for the demand in the tungsten market to fully recover. The weak supply and demand pattern of the industry continues.

Prices of tungsten products on April 6, 2023

Picture of ammonium metatungstate

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