China’s Ammonium Paratungstate Price Stabilizes on Slow Economic Recovery

Details: Category: Tungsten's News; Published on Friday, 30 June 2023 16:45

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices continue to be stable on June 29, 2023 when the pace of economic recovery is lower than expected.

Consumption downgrades to varying degrees in various industries, including the cemented carbide field. Enterprises’ new orders are not good, forcing the market of tungsten raw materials to be under pressure. Due to the limited increase in market supply, the short-term market is expected to stabilize.

In the tungsten concentrate market, the resources of miners are limited, and the overall market price is relatively stable at around $17,794.1/ton. However, downstream users do not accept the current ore price, and the market is mainly in need of purchases.

In the APT market, there have been many lower-price inquiries from downstream users recently, and the actual transactions have been sluggish. The overall market sentiment is negative and market price stabilizes at about $300.8/mtu.

In the tungsten powder market, the demand for downstream alloys and their products is not good. The overall purchasing enthusiasm in the market is low because most powder manufacturers wait and see the next move in the market. The tungsten powder price stabilizes at about $40.4/kg.

On the macro level, according to statistics from the Bureau of Statistics, in May, the profits of industrial enterprises above designated size across the country fell by 12.6% year-on-year, a decline that was 5.6 percentage points narrower than that in April. From January to May, the profits of industrial enterprises above designated size fell by 18.8% year-on-year, and the rate of decline was 1.8 percentage points narrower than that from January to April. Among them, the total profit of the mining industry decreased by 16.2%; the profit of the manufacturing industry decreased by 23.7%; the profit of the production and supply of electricity, heat, gas and water increased by 34.8%.

Prices of tungsten products on June 30, 2023

China tungsten price image