China’s APT Price Stabilizes at the End of May 2023

Details: Category: Tungsten's News; Published on Tuesday, 30 May 2023 16:11

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price continued to be stable when the overall resource circulation in the tungsten market continued to be slow and most transactions were negotiated rationally.

The price of tungsten concentrate is stalemate at around $18,615.4/ton and the willingness of merchants to offer remains firm. It is expected that environmental protection and high temperature weather will have an impact on the supply of mines. However, the activity of inquiries in the downstream is still not good due to purchasers’ fear of high offers. There are no obvious fluctuations in the market price for the time being.

The APT price is stalemate at around $314.6/mtu and the mentality in the market is still divided. Traders are still unclear about the market outlook. On the one hand, due to the strong atmosphere at the mining end, there is an intention to test the market; on the other hand, due to the sluggish export market, plus with the recovery of domestic demand still needs a cycle, the market consumption is under pressure.

The price of tungsten powder is stalemate at around $42.3/kg. Manufacturers are equally difficult to trade. The raw material market is unwilling to supply at a low level, and downstream cemented carbide and its products companies are not enthusiastic about purchasing and stocking up, and the overall trade negotiations in the market remain cautious.

On the macro level, according to the National Bureau of Statistics, from January to April, China's industrial enterprises above designated size achieved a total profit of 2.03 trillion yuan, a year-on-year decrease of 20.6%. Among them, the mining industry achieved a total profit of 475.24 billion yuan, a year-on-year decrease of 12.3%; the total profit of the manufacturing industry was 1.37 trillion yuan, a year-on-year decrease of 27.0%; the total profit of the electricity, heat, gas and water production and supply industry was 185.27 billion yuan, a year-on-year increase of 34.1%.

Prices of tungsten products on May 30, 2023

China tungsten price image