The tungsten market has remained stable recently, with the price trend shifting slightly in favor of sellers. Holders are largely holding firm on prices in anticipation of further increases, while buyers remain cautious in their replenishment efforts, though procurement driven by immediate necessity has picked up compared to earlier periods. Market participants are currently closely monitoring the guidance prices issued by relevant industry organization and major tungsten enterprises.
Quotations for tungsten concentrate with a grade of 55% or higher are concentrated in the RMB 350,000-360,000/standard ton range. Both mines and traders are strongly inclined to hold firm on prices, limiting the availability of low-cost supply. Spot transactions are primarily conducted on an as-needed basis.
Ammonium paratungstate (APT) is being negotiated in the RMB 530,000-550,000/ton range. Producers are generally reluctant to sell, aiming to support market prices, which has led to relatively tight spot availability. Securing material at the lower end of this range has become more difficult, and the room for negotiation for buyers has narrowed. The pace of transactions remains constrained by the cautious sentiment prevailing downstream.
Supported by production costs, powder manufacturers have shown a clear willingness to push for higher prices, with the prices of tungsten powder and tungsten carbide powder returning to the RMB 800,000/ton level. Downstream sectors remain somewhat passive in accepting these price pass-throughs, with orders largely limited to essential requirements. Cemented Carbide industry faces a dual challenge: the pressure to digest high-cost inventory alongside constrained end-user demand. As a result, companies remain cautious regarding their outlook on market trends and their operational pacing.
In the ferrotungsten market, cost-side support remains firm. Steel mills continue to approach tenders with caution, and participants across the supply chain are taking a wait-and-see stance regarding costs and liquidity. Trading is largely driven by rigid need, and the market remains stable, with the price of 70% ferrotungsten hovering around RMB 520,000/ton.
The tungsten scrap market continues to exhibit sentiment-driven volatility. Recent signs of strength in raw material prices have bolstered the confidence of holders, pushing the general range for price negotiations upward. However, transaction volumes remain limited due to discrepancies in price expectations between buyers and sellers, as well as capital constraints within downstream sectors.
