China’s APT Price Is Stable in Late June 2023 Affected by Sluggish Market

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and tungsten powder prices remain weak adjustment in the Chinese market affected by the tepid demand in the market. 

In the tungsten concentrate market, the downstream bargaining atmosphere affects the state of the raw material market. Recently, the liquidity of mineral products has been slow, especially high-grade and high-quoted resources. The market is in a stalemate and 65% black tungsten concentrate offers hover around $17,794.1/ton. 

The APT market is caught in heavy wait-and-see atmosphere with limited deals concluded. However, affected by the rised mentality of raw materials, smelters are profit-taking. The short-term APT price will stabilize at around $300.8/mtu. 

In the tungsten powder market, the consumption status in the cemented carbide field is not clearly positive, and the influence of external uncertainties is superimposed. Therefore, market price mainly stabilizes at about $40.4/kg and deals were clinched at small volumes.

On the macro front, China’s April-May economic data was lower than expected, and many investment banks have recently lowered their forecasts for China’s economic growth this year: UBS’s forecast was lowered from 5.7% to 5.2%, and JP Morgan Chase’s forecast was lowered from 5.9% to 5.5%, Goldman Sachs is expected to be lowered from 6% to 5.4%, Nomura Securities is expected to be lowered to 5.1% from 5.5%, Standard Chartered Bank is expected to be lowered to 5.4% from 5.8%, Bank of America is expected to be lowered to 5.7% from 6.3%, and Standard & Poor’s is expected to down to 5.2% from 5.5%. 

Prices of tungsten products on June 28, 2023

Picture of tungsten trioxide 

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