China’s APT Price Shows Signs of Rise but Demand Remains Weak

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium metatungstate (APT) and tungsten powder prices keep stable on May 25, 2023 when the overall confidence in the raw material market has increased after the announcement of long-term contract prices by large companies. 

In the tungsten concentrate market, the willingness of the holders to sell at low price is not high, and the supply of market resources is relative tight, but it is difficult to get a response to high-grade offers. The recent 65% black tungsten concentrate offers hover around $18,615.4/ton. 

The atmosphere at the raw material end has been transmitted to the APT market. Recently, smelters have increased their intentions to support the market, and some quotations have been raised tentatively. However, downstream users have remained on the sidelines to purchase. The actual trading volume in the market is limited.

In the tungsten powder market, downstream terminal enterprises are not very active in preparing and purchasing raw materials, and there are not many new orders in the market. Due to cost factors, powder manufacturers cautiously offer and accept orders. There are differences in market trading intentions.

In terms of macroeconomics, the World Bank predicts that in 2023, global commodity prices will fall at the fastest rate since the outbreak of the epidemic, with a simultaneous decline of 21%. Among them, food prices fell by 8%, still at the second highest level since 1975; energy prices fell by 26%. Falling commodity prices have helped lower overall global inflation, but factors such as weak oil supplies, geopolitical crises and extreme weather could lead to higher prices and inflationary pressures.

Prices of tungsten products on May 26, 2023

Picture of tungsten granule 

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