Xiamen Tungsten's APT Bid Price in the Second half of January 2024 Remained Stable

Analysis of latest tungsten market from Chinatungsten Online

The latest tungsten enterprises’ long-term contract prices have not seen adjustments, indicating a stable state in the tungsten market. The supportive sentiment from the tungsten mining end maintains resilience at the bottom of the tungsten industry chain. 

However, the subdued consumption atmosphere for tungsten alloys and their downstream products affects the confidence of purchasers. Market transactions and negotiations are generally stagnant, focusing on summarizing work before the Chinese New Year. Actual directional information in the market is limited, and the overall tungsten price situation is in a stabilizing period.

According to information from Chinatungsten Online, in January 2024, Xianglu Tungsten's long-term contract prices for tungsten raw materials, including a 13% value-added tax, remained unchanged from December 2023. The prices include 55% tungsten concentrate at $17,214.3/ton, scheelite concentrate at $17,071.4/ton, and ammonium paratungstate (APT) at $291.4/mtu. 

Xiamen Tungsten's APT bid price in the second half of January 2024 remained unchanged at $291.4/mtu compared to the first half of January 2024 and the second half of December 2023.

In terms of news, according to data from the Ministry of Industry and Information Technology, in 2023, China's shipbuilding completion volume was 42.32 million deadweight tons, a year-on-year increase of 11.8%. The new order volume was 71.20 million deadweight tons, a year-on-year increase of 56.4%. As of the end of December, China's shipbuilding completion volume, new order volume, and order backlog volume, measured in deadweight tons, accounted for 50.2%, 66.6%, and 55.0% of the global total, respectively. These indicators maintain China's position as the world leader in the international market share. Tungsten-molybdenum materials are indispensable in the shipbuilding industry.

Prices of tungsten products on January 17, 2024

Picture of tungsten alloy rings 

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