This was posted on China Tungsten (online) linked in page. APT $347mtu.
Tungsten likely to be tighter controlled on export basis should a trade war break out.
This was posted on China Tungsten (online) linked in page. APT...
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Tungsten prices on Monday showed stability, with the market fundamentals continuing to reflect tight supply and weak demand. The transaction stance between buyers and sellers remained stalemated.
65% Black Tungsten Concentrate: Prices centered around $20,869.6/ton, with limited resource availability. Although bullish sentiment remained dominant, actual transaction volumes were restricted by relatively weak demand.
Ammonium Paratungstate (APT): Prices stabilized around $347.2/mtu. Insufficient supply-demand matching and divergent market outlooks among traders contributed to limited overall trading volumes.
Tungsten Powder and Tungsten Carbide Powder: Prices remained at $45.8/kg and 45.1/kg, respectively. A strong wait-and-see attitude persisted, with buyers making small, need-based purchases.
Ferro-Tungsten (70%): Prices held steady at $31,014.5/ton, with continued supply-demand tensions within the industry chain. Macroeconomic instability further influenced cautious market behavior.
Scrap Tungsten: Prices remained stable, with some traders selling for profit. Buyers remained cautious during the horizontal price movement period, resulting in limited market liquidity.
Macroeconomic Context
The Ministry of Finance and the State Taxation Administration announced adjustments to export tax rebate policies. Effective December 1, 2024:
Export tax rebates will be canceled for aluminum products, copper products, and chemically modified oils, fats, and similar substances. The export tax rebate rate for some refined oil products, photovoltaics, batteries, and certain non-metallic mineral products will be reduced from 13% to 9%.
Impact Analysis
The cancellation or reduction of export tax rebates for major metal products, where China has production and capacity advantages, implies lower export profitability for domestic enterprises or higher export prices.
Analysts believe this move will likely lead to rising international prices for related copper and aluminum products under unchanged or increasing production costs, reducing their international competitiveness in the short term. However, it may strengthen China’s position in global economic negotiations and promote long-term, high-quality development within the industry.
Tungsten, Molybdenum, and Rare Earth Sectors
China’s tungsten, molybdenum, and rare earth industries hold significant global influence, supported by advanced processing and smelting technologies. Historically, these products have been exported at relatively low prices.
Amid escalating restrictions and unfair tariff policies from Western countries on China’s role in sectors like new energy, along with threats to revoke China's normal trade status, these critical resources may become powerful tools in China's economic strategy.
Prices of tungsten products on November 19, 2024Activate to view larger image,