China’s APT Price Increases While Tungsten Powder Price Stabilizes

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price in China is currently stabilizing, and market transactions remain lukewarm on November 23, 2023. 

However, compared to the earlier trend of offering concessions to seek orders, there has been an increase in the recent market's willingness to hold prices, primarily due to the firm stance of mining companies and the boost from a new round of tungsten enterprise quotations. 

Nevertheless, due to the slower-than-expected recovery in demand, buyers remain cautious, and the market is characterized by a wait-and-see attitude.

The price of tungsten concentrates is temporarily stable at $17,142.9/ton, with some upward pricing, but downstream terminals continue to adopt a cautious and observant approach to receiving goods, resulting in relatively low market activity. The new round of environmental inspections may have some impact on the release of mining and smelting capacity, at least increasing the sentiment of reluctant selling and holding prices in the market.

Ammonium paratungstate (APT) price is holding steady at around $288.9/mtu, with some quotations reaching above $288.9/mtu. This pricing is primarily driven by cost considerations, but the actual demand-side cooperation is not high, and market transactions are characterized by a wait-and-see attitude.

Tungsten powder price is stagnant at around $38.3/kg, with market prices following the rising trend, but actual transactions are relatively limited. Observations are focused on the progress of demand in the alloy sector. Currently, the market's fundamental supply and demand situation is in a tug of war with external trade conditions, and there is limited enthusiasm for buyers to stock up.

The scrap tungsten market generally maintains a stable and observant stance, while the primary tungsten market's atmosphere has slightly warmed. However, the status of shipments in the hard alloy sector remains ordinary, and market negotiations are cautious, with a prevalent wait-and-see mentality.

Prices of tungsten products on November 24, 2023

Picture of APT

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