China’s Xiamen Tungsten Declined APT Bid Price for the First Half of July 2023

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and tungsten carbide powder prices in the Chinese market are under pressure affected by the negative sentiment of traders, especially large tungsten enterprises.

China’s Xiamen Tungsten quoted APT bid price at 295.8/mtu for the first half of July, down $4.2/mtu compared with the second half of June 2023. 

In the tungsten concentrate market, although the supply is still controllable and low-level spot resources are limited, affected by the relatively sluggish atmosphere of downstream terminals, buyers are not willing to take the initiative to purchase goods. The whole market trading activity is low. 65% black tungsten concentrate offer stalemates at about $17,647.1/ton. 

In the APT market, weak demand and the decline in long-term contract prices from large companies have affected the market sentiment, while the cost side has been relatively stable, resulting in increased pressure on smelters. The merchants' external offers have stalemate at about $299.1/mtu with limited deals concluded.

In the tungsten powder market, the recovery of manufacturing consumption is relatively slow. At the beginning of the month, the news of new guide prices from enterprises is negative. Affected by that, it is difficult to see a significant improvement in transactions and market price temperately stabilizes at about $40.1/kg. in the short term, traders are expected to wait and see the clear guidance from large enterprises.

Prices of tungsten products on July 5, 2023

Picture of tungsten trioxide 

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