China’s Tungsten Powder Prices Remain Weak in the Second half of October 2023

Details: Category: Tungsten's News; Published on Thursday, 26 October 2023 17:40

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and tungsten powder prices in the Chinese market remain weak on October 25, 2023, with subdued market sentiment.

On one hand, this is due to the market's weak fundamentals, with suppliers reluctant to release low-priced resources, and a subdued atmosphere for purchase inquiries. The overall trade situation in the market remains stagnant and under pressure. On the other hand, macroeconomic risks have increased, including the risk of a global economic downturn, inflationary pressures, U.S. fiscal issues, and geopolitical conflicts. External conflicts are escalating, creating certain obstacles to the recovery of the tungsten product market.

Tungsten concentrate prices remain around $17,142.9/ton. The demand for tungsten products this year has been generally below expectations. However, due to the advantage of resource control at the mining end and the support of a bullish market sentiment, the market performance remains relatively stable, with actual transactions being lackluster.

Ammonium paratungstate (APT) prices are stabilized around $288.9/mtu. Manufacturers maintain a cautious attitude toward production and sales, and overall trading activity is not high.

Tungsten powder prices remain stable at around $38.6/kg but is under pressure. The trade is influenced by the bearish sentiment in the downstream sector, with a focus on just-in-time transactions.

According to customs data compiled by Chinatungsten Online, in September 2023, China's tungsten product exports amounted to 1,810.40 tons, a decrease of 5.28% year-on-year but an increase of 6.69% month-on-month. The total export value was 487 million CNY, a decrease of 3.37% year-on-year but an increase of 5.12% month-on-month. From January to September 2023, China's cumulative tungsten product exports amounted to 15,800 tons, a decrease of 28.56% year-on-year, with a total export value of 4.227 billion CNY, a decrease of 23.27% year-on-year.

Prices of tungsten products on October 26, 2023

China APT price image