China’s Tungsten Powder Price Keeps Firm on Tight Supply

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices keep firm on April 25, 2023 mainly due to the tightening supply of raw materials as well as the strong rised mentality of suppliers. 

However, the enthusiasm of the consumer side is still lacking, especially the uncertainty of external demand restricts the sentiment of buyers, and the market transactions are limited. The whole market is having prices but no sales. 

In the tungsten concentrate market, environmental protection supervision and the rainy season have certain restrictions on the incremental space of spot supply. In addition, the recent rebound after previous pressure as well as the approaching of the May Day make manufacturers keep firm offers despite the demand remains weak. Now the price of high-grade tungsten ore is testing to $18,461.5/ton with no deals concluded. 

In the APT market, affected by the strong offer in the tungsten raw material market, the smelters' attitude towards the market is also getting stronger, and some offers are tentatively towards $312.9/mtu. However, as the holiday approaches, the quantity of market purchases and stocking continues to decrease, and downstream users have not followed up on the acceptance of high-end raw materials, and the market is mainly in a wait-and-see atmosphere. 

In the tungsten powder market, the current supply of raw materials is gradually tightened, and the cost pushes tungsten powder price rise to $41.8/kg. However, the consumption of tungsten products such as cemented carbide has not increased significantly, and buyers are not active in replenishing their inventory, so the market transaction situation is slightly dull.

Prices of tungsten products on April 26, 2023

Picture of tungsten acid

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