China’s Xiamen Tungsten Raised APT Bid Price for the First Half of May 2023

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices keep firm on May 5, 2023 mainly due to the strong rised mentality of tungsten raw material suppliers as well as the expected increase of long-term contract prices for the first half of May 2023. 

China’s Xiamen Tungsten increased their APT bid price from $304.2/mtu to $313.8/mtu for the first half of May 2023. 

Affected by the increase of new guide prices, tungsten concentrate offers were raised to $18,769.2/ton, trades’ APT psychological prices tested to $321.6/mtu and tungsten powder prices were tried to increase to $42.8/kg. 

On the macro front, the Federal Reserve raised interest rates by 25 basis points as scheduled, and has raised interest rates for the tenth time in a row, with a total of 500 basis points of interest rate hikes. Although the relevant meeting statement hinted that this may be the last rate hike, the fast-paced tightening cycle since March last year has exacerbated the market's concerns about economic and financial stability, and will especially further impact the already turbulent banking industry.

Prices of tungsten products on May 6, 2023

Picture of tungsten needles

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