According to Baichuan Yingfu data, the mainstream price of ammonium paratungstate increased by 10,000 yuan/ton from the previous working day to 530,000 to 550,000 yuan/ton on November 5, up 4.85% from last week. It is worth noting that the short-term increase did not change the overall background of a marked decline in prices during the year. According to the data, the average APT price was still 11.48% lower than the previous quarter, down 19.40% from the beginning of the year, but still up 18.16% from the same period last year. According to analysis, judging from current market performance, upstream raw material side support is relatively stable, smelters are reluctant to sell, and low-price supply in the distribution chain is gradually tightening, jointly driving up APT prices. However, the price rebound has yet to bring about a simultaneous increase in transactions. Downstream companies are still mainly in need of inventory replenishment. They are not very willing to catch up and take goods, and the pace of transactions is slow. Most of them are scattered and small. As for the future market, based on the latest institutional opinions and spot performance, tight raw materials and reluctance to sell may still support APT prices, but the downstream is cautious and the powder side is lagging behind, which means that the continuation of the rebound still requires verification of transaction volume and terminal demand.

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