China’s APT Prices Stabilize with the Coming of Spring Festival

Details: Category: Tungsten's News; Published on Wednesday, 31 January 2024 19:24

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten price is showing a stable and robust trend, with a predominant willingness to support and explore price increases on the raw material side.

Some factories plan to suspend or reduce production after this week, formally entering the long Spring Festival holiday. Coupled with the upcoming Lantern Festival and shortly after, the Two Sessions, historical experience suggests that the supply of tungsten ore and other raw materials will continue to remain relatively tight throughout the cycle. This boosts the market's determination to finish the year on a strong note. Tungsten product prices are expected to remain stable in the short term, with downstream end-users making small purchases based on rigid demand while observing the actual demand performance in the future.

The price of 65% black tungsten concentrate is maintained at around $17,571.4/ton. Due to the decrease in the ore grade and its non-renewable nature, and the relatively positive willingness of stockholders to support and explore price increases, the price of 55% black tungsten concentrate is gradually becoming an important reference price for tungsten products. Merchants have made slight upward adjustments to their offers recently, but actual transactions before the holiday are limited.

APT prices are testing around $295.4/mtu, mainly influenced by raw material costs. The limited profit margin for smelters and the risk of inversion in some cases contribute to a strong willingness of manufacturers to follow the trend of price increases.

Tungsten powder prices remain around $39.1/kg, and tungsten carbide powder prices stabilize at around $38.6/kg. The competition between the firm trend in raw material costs and the relatively sluggish atmosphere in downstream end-user demand, coupled with the increasing holiday atmosphere, results in overall low market activity. The market is cautious and observes the situation.

Ferro tungsten prices are testing above $25,428.6/ton. This is supported by the cost of tungsten raw materials and the additional costs, such as transportation for exported products. The market is characterized by a stable trend, and observers are waiting to see the recovery in consumption in downstream industries like steel.

The price of waste tungsten grinding materials is maintained at around $0.33 per degree, and the price of tungsten bars is around $29.6/kg. Based on the firm market conditions for raw materials and the relatively limited supply, there is a strong willingness to support the market, but the number of transactions before the holiday is limited.

Prices of tungsten products on January 31, 2024

APT price image