APT and Tungsten Carbide Powder Prices Are Under Pressure in October 2023

Details: Category: Tungsten's News; Published on Thursday, 19 October 2023 16:45

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten carbide powder prices in the Chinese market continue to remain stable on October 18, 2023 due to lukewarm sentiment of market participants.

In the tungsten concentrate market, most transactions are concentrated below $17,142.9/ton, and the availability of circulating resources is limited. This is partly due to the steady pricing by most mines and the cooling of purchasing sentiment among downstream participants. The market is characterized by cautious sentiment in the short term.

In the ammonium paratungstate (APT) market, mainstream transactions remain around $288.9/mtu mainly because demand performance falls short of expectations, suppressing the overall tungsten raw material market. However, the impact of the steady attitude of upstream players poses challenges for smelters, and market transactions have been mediocre recently.

In the tungsten powder market, prices remain around $38.7/kg. The atmosphere for replenishing downstream stocks is not favorable, and the demand side shows no signs of improvement. This affects the confidence of grinding traders, and there is relatively more negotiation pressure in the market, which is characterized by a wait-and-see attitude while the alloy side attempts recovery.

In the ferro tungsten market, the price remains at around $14,857.1/ton, and the current market fundamentals are relatively under pressure. The industry chain is characterized by weak bargaining power, and combined with external tensions, it affects the entry sentiment of traders. The market is dominated by a cautious atmosphere.

On the macro side, the World Trade Organization (WTO) recently lowered its global merchandise trade growth forecast for 2023 to 0.8% and anticipates a rebound in global commodity trade growth to 3.3% in 2024. Based on market exchange rates, it is expected that global real GDP will grow by 2.6% in 2023 and 2.5% in 2024.

Prices of tungsten products on October 19, 2023

China tungsten price image