Tungsten prices continued their firm upward trend, supported by factors such as tight supply, resilient demand, and international geopolitical risks. However, actual market trading was cautious due to cost and funding pressures. The tungsten scrap recycling sector exhibited some cyclical fluctuations.
ore supply remained tight, with holders generally reluctant to sell. Coupled with recent escalation of international geopolitical conflicts, the valuation of tungsten as a strategic metal continued to rise, driving prices to remain firm.
- 65% wolframite concentrate was priced at RMB 870,000/ton, up 89.1% from the beginning of the year.
- 65% scheelite concentrate was priced at RMB 869,000/ton, up 89.3% from the beginning of the year.
a cost-driven firm price was observed, but at the same time, increased funding pressure on the industry chain led to cautious market activity and limited transaction volumes per transaction.
- Domestic APT was priced at 1.3 million/ton, up 94.0% from the beginning of the year.
- European APT was priced at USD 1890-1998/mtu (equivalent to RMB 1.158-1.224 million/ton), up 111.3% from the beginning of the year.
traders' quotations are somewhat chaotic. Most transactions come from maintaining long-term customer relationships and inquiries based on genuine demand. Some high quotes are more of a market test, and market trading is cautious.
- Tungsten powder was priced at RMB 2050/kg, up 89.8% from the beginning of the year.
- Tungsten carbide powder was priced at RMB 1990/kg, up 91.4% from the beginning of the year.
- Cobalt powder was priced at RMB 580/kg, up 11.5% from the beginning of the year.
increased raw material and energy prices have pushed up production costs, which are reflected in rising product prices. Downstream users such as steel mills are purchasing based on rigid demand.
- 70% ferrotungsten was priced at RMB 1.25 million/ton, up 92.3% from the beginning of the year.
- European ferrotungsten was priced at $209-230/kg tungsten (equivalent to RMB 1.013-1.114 million/ton), up 59.6% from the beginning of the year.
the continuous price increases since the Spring Festival have slowed due to macroeconomic uncertainties, yesterday's pullback in the secondary market, and profit-taking sentiment among participants. Market sentiment is divided, with offers showing mixed trends.
- Scrap tungsten rods were priced at RMB 1320/kg, up 120.0% from the beginning of the year.
- Scrap tungsten drill bits were priced at RMB 1300/kg, up 124.1% from the beginning of the year.
