Tungsten prices continued their weak trend on Monday. Profit-taking by holders and traders, coupled with cautious, on-demand purchasing by buyers, led to a slight easing of supply in the market, resulting in a downward shift in overall pricing. According to China Tungsten Online, some products with significant profit-taking or containing waste materials are being sold at disorderly prices significantly below mainstream market prices, impacting the overall market sentiment and widening the bid-ask spread. However, considering that the temporary easing of supply does not change the long-term rigid constraints and strategic importance of tungsten raw materials, the decline in mainstream prices is relatively rational, corresponding to a sluggish market trading atmosphere.

As of press time,

• 65% wolframite concentrate price: RMB 890,000/ton, down 15.2% from its high, but up 93.5% since the beginning of the year.
• 65% scheelite concentrate price: RMB 889,000/ton, down 15.3% from its high, but up 93.7% since the beginning of the year.
• Ammonium paratungstate (APT) price: RMB 1,380,000/ton, down 9.2% from its peak, but up 106.0% from the beginning of the year.
• European APT price: USD 2800-3289/mtu (equivalent to RMB 1.69-1.985 million/ton), up 230.9% from the beginning of the year.
• Tungsten powder price: RMB 2220/kg, down 7.5% from its peak, but up 105.6% from the beginning of the year.
• Tungsten carbide powder price: RMB 2160/kg, down 7.7% from its peak, but up 107.7% from the beginning of the year.
• Cobalt powder price: RMB 575/kg, down 0.9% from its peak, but up 10.6% from the beginning of the year.
• 70% ferrotungsten price: RMB 1,280,000/ton, down 9.9% from its peak, but up 96.9% from the beginning of the year.
• European ferrotungsten price: USD 289-310/kg W (equivalent to RMB 1.38-1.48 million/ton), down 7.9% from their peak but up 117.8% from the beginning of the year.
• Scrap tungsten rods prices: RMB 910/kg, down 33.6% from their peak but up 51.7% from the beginning of the year.
• Scrap tungsten drill bits prices: RMB 880/kg, down 35.8% from their peak but up 51.7% from the beginning of the year.