China’s APT Price Breaks Through $312.9/mtu on April 27, 2023

Analysis of latest tungsten market from Chinatungsten Online

The tungsten carbide powder and ferro tungsten prices continue to rise and APT price breaks through $312.9/mtu on April 27, 2023 mainly due to the strong rised mentality of tungsten raw material suppliers as well as the external speculation.

However, according to Chinatungsten Online, the actual supply and demand fundamentals of the tungsten market are still at a stalemate. With the impact of the approaching May Day holiday, the trading atmosphere is low. 

From the perspective of the supply side, the supply of tungsten ore has not seen a significant increase, and under the influence of the environmental protection supervision in the main production areas and the May Day holiday, the mine mining has become more difficult, the amount of spot resources has decreased. Due to the limited cooperation in the industrial chain of smelters, manufacturers cautiously avoid the risk of price inversion, and the overall operating is not high.

In addition, affected by the downturn in the market since February, the market’s reluctance to sell and build a bottom has increased, and the market is likely to enter a periodical rebound stage. The offer of high-grade tungsten concentrate returned to $18,461.5/ton, driving the price increase of downstream tungsten products. 

From the perspective of demand, with the easing of the epidemic pressure and the rise of global geopolitical risks, the demand for tungsten raw materials in superalloys and national defense and military industries remains generally stable; however, subject to the risk of overseas economic recession and the pressure of low-quality inventory of alloy products, the industry is still worried about the demand prospect of downstream tungsten products. 

In addition, the consumption of tungsten raw materials in the steel field is also limited by the industry's surplus and production reduction trends. On the whole, the demand status of the current tungsten market is not yet clear, the market is high and the volume of transactions is insufficient, and the room for continuous upward exploration needs to be further observed.

Prices of tungsten products on April 28, 2023

Picture of blue tungsten oxide 

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