China’s Ammonium Paratungstate Price Stabilizes on Quiet Market Trading

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and tungsten powder prices in the Chinese market are unchanged from the previous trading day on November 15, 2023 as the market trading sentiment is mediocre, with a tug-of-war situation in buying and selling. 

On the supply side, a cautious attitude toward sales from mining and reduced production from smelters for risk aversion has eased the supply pressure in the market. The price of high-grade tungsten concentrates is maintained at around $17,142.9/ton, and despite some downward pressure, there is not much loosening. The price of ammonium paratungstate (APT) is temporarily stable at around $287.3/mtu, accompanying a wait-and-see approach in the industry chain and large enterprises' long-term contract prices. 

On the demand side, a lackluster trend dominates the alloy sector, leading to a bearish sentiment in the industry. After the expectations for a strong September and October were disappointed, some industry participants are concerned about financial pressure in the fourth quarter. The expectations for tungsten product consumption are relatively low, affecting the proactive trading activity in the market, with inquiries mainly coming from essential demand.

On the macro level, the Chinese economy continues to recover, but the momentum of global economic recovery is uncertain. Coupled with the ongoing escalation of geopolitical risks, the overall trade and investment environment is relatively weak, significantly impacting the industry's overall consumption. Future attention will continue to focus on favorable policy adjustments.

Prices of tungsten products on November 16, 2023

Picture of tungsten rings 

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