China’s Tungsten Powder Price Remains Unchanged on Quiet Market

Details: Category: Tungsten's News; Published on Wednesday, 06 December 2023 19:06

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten powder and ammonium paratungstate (APT) prices continue to stabilize on December 5, 2023, with support from the mining end, and the market exploration sentiment is still present.

However, constrained by demand, the overall spot trading volume is relatively low. Industry participants have divergent expectations for the future market, with varying levels of confidence in their offerings. They are waiting for a clear indication of prices from the next round of institutional and major enterprise guidance, as well as a correction in the future market fundamentals.

The price of tungsten concentrate is testing the high level of $17,428.6/ton, and the market's willingness to make concessions is not strong. However, the downstream terminal follow-up momentum is limited, and the overall shipping status remains sluggish.

Ammonium paratungstate (APT) price has risen to $290.6/mtu, with smelting companies reporting significant pressure from inverted hanging, and overall production and purchasing enthusiasm are not ideal. Downstream users remain cautious in making purchases, leading to subdued actual trading activity.

Tungsten powder price is maintained at around $38.6/kg, with trade merchants' offering status slightly chaotic. The market's illiquidity is attributed to the ongoing tug-of-war between the resilient sentiment in the primary market and weak alloy demand. Many are adopting a wait-and-see approach regarding changes in fundamental market information.

The tungsten scrap market remains stable, with limited resources, and although consumption has not significantly rebounded, compared to raw materials, sellers are more willing to hold out for higher prices.

Prices of tungsten products on December 6, 2023

China APT price image