China’s Tungsten Concentrate Price Stabilizes with Actual Transactions Remaining Sparse

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices continue to be stable as demand pressures on the market are significant, consumer confidence remains under pressure, and the supply side's efforts to stabilize the market are the primary support. 

However, the situation for inventory turnover within the market remains subdued, and at the beginning of the month, attention is turned to new pricing guidance from institutions and large enterprises.

The high-grade tungsten concentrate price remains at $17,142.9/ton, with actual transactions remaining sparse. Miners have limited willingness to offer discounts, and downstream demand for raw materials continues to be price-sensitive, with the market generally seeing low-level inquiries based on demand.

Ammonium paratungstate (APT) prices are hovering around $288.9/mtu, with limited progress on the consumer side. Purchasers are showing a weaker inclination to enter the market actively. The market is under pressure, combined with stagnant cost performance, which results in significant price inversion pressure.

Tungsten powder prices remain weak and stable at $38.6/kg. Consumption in the hard alloy market remains weak, and the latest manufacturing data is less than ideal. There is insufficient feedback on internal economic recovery, and the uncertain overseas environment places significant pressure on powder manufacturers. Factory operating loads are relatively low, and the market is generally in a weak and stable state.

According to statistics from the National Bureau of Statistics, in October, China's manufacturing Purchasing Managers' Index (PMI) was 49.5%, down 0.7 percentage points from the previous month, indicating a contraction. The non-manufacturing PMI was 50.6%, down 1.1 percentage points from the previous month, while remaining in expansion. The comprehensive PMI was 50.7%, down 1.3 percentage points from the previous month, indicating that China's overall business activities are expanding, although at a slower pace.

Prices of tungsten products on November 2, 2023

Picture of tungsten putty 

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