China’s APT and Tungsten Powder Prices Stabilized at the end of January 2024

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price stabilized, and the market became increasingly festive. The overall market showed resilience against declines, but the actual trading atmosphere was subdued. 

Holders maintained a stable closing stance, while buyers had limited pre-holiday stocking plans, resulting in a cautious negotiation atmosphere among spot traders.

The price of tungsten concentrate remained around $17,571.4/ton, with a dominant market sentiment favoring stability. Downstream users showed limited initiative in receiving goods, reflecting a generally restrained demand in the essential trade sector.

APT (Ammonium Paratungstate) prices were maintained at around $293.8/mtu. There was a localized sentiment of exploring higher prices, but with the approach of the Chinese New Year holiday, actual transaction implementations were limited.

Tungsten powder prices were held at around $39.0/kg, and the price of tungsten carbide powder remained stable at around $38.4/kg. The market's stable sentiment was influenced by cost considerations, but the downstream end-users showed less enthusiasm in receiving goods, resulting in relatively weak demand support.

Ferro tungsten prices temporarily stabilized at around $25,285.7/ton. Increasing concerns about overseas risk factors and market cost pressures led sellers to strengthen their stances, while they adopted a wait-and-see approach for order implementations.

The scrap tungsten market maintained stable operation, with the price of grinding materials held at around $0.33 per degree and the price of bars maintained at around $29.6/kg. Limited market resources and moderate pre-holiday demand characterized the market, with sellers predominantly adopting a wait-and-see attitude, anticipating post-holiday consumption developments.

On a macroeconomic level, according to the statistics bureau, in 2023, China's national industrial enterprises above a certain scale achieved a total profit of ¥76,858.3 billion, a year-on-year decrease of 2.3%, narrowing by 1.7 percentage points compared to the previous year, continuing the recovery trend. Since August, profits of industrial enterprises above the designated scale have shown positive growth for five consecutive months. The total operating income for 2023 reached ¥133.44 trillion, a year-on-year increase of 1.1%.

Prices of tungsten products on January 30, 2024

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Picture of tungsten powder

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