China’s Xiamen Tungsten Declined Procurement Price for APT for Early January 2024

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price is overall maintaining a stable situation, with market consumption sentiment yet to be established after the New Year. On the raw material side, due to a supportive stance and cost considerations, suppliers are maintaining steady quotations, observing the actual stocking situation before the Spring Festival.

According to information obtained by Chinatungsten Online, in the first half of January 2024, Xiamen Tungsten's procurement price for ammonium paratungstate (APT) was $291.4/mtu, unchanged from the second half of December, and $0.8/mu lower than the price in the first half of January 2023.

The price of tungsten concentrate in the high-grade segment remains around $17,571.4/ton. The market has not seen a willingness to let profits go, and attempts to explore higher prices have not been recognized by the downstream, resulting in a short-term consolidation at high levels.

APT prices are stabilizing around $293.8/mtu. While there is significant cost pressure in the market, the overall situation is constrained by demand factors. Manufacturers are primarily engaged in risk-avoidance operations, adopting a wait-and-see approach in the industry chain dynamics.

Tungsten powder prices are holding steady at around $39.0/kg, with clear differences in market confidence. This is mainly influenced by the cost of tungsten raw materials and the consumption situation in the hard alloy sector. Post-New Year news feedback has been limited, leading to a short-term stable operation in line with the overall market.

Prices of tungsten products on January 4, 2024

Picture of blue tungsten oxide 

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