On Monday, tungsten prices hit new highs, with the strong momentum of prices doubling in just over two months showing no signs of abating, and both domestic and international tungsten prices rising in unison. Driven by the firm atmosphere in the tungsten raw material market, the willingness to cash out tungsten scrap has weakened, and the atmosphere of holding back sales in anticipation of further price increases has increased. According to a survey by China Tungsten Online, given the limited increase in supply, the continued rigidity of demand, the reassessment of strategic attributes, and the intervention of speculative funds, industry players believe that the overall strong trend in tungsten prices will continue. However, they warn of the risk of a cyclical correction due to the high price increases in the short term, and advise participants to maintain a rational pace amidst fluctuations.
The tungsten bull market has attracted widespread attention. On Sunday evening, CCTV's financial channel cited data from China Tungsten Online to provide a detailed and multi-faceted observation and report on the rise in tungsten prices and its impact.
- 65% wolframite concentrate was priced at RMB 935,000/ton, up 103.3% from the beginning of the year.
- 65% scheelite concentrate was priced at RMB 934,000/ton, up 103.5% from the beginning of the year.
- Ammonium paratungstate (APT) was priced at RMB 1.39 million/ton, up 107.5% from the beginning of the year.
- European APT was priced at USD 2000-2195/mtu (equivalent to RMB 1.226-1.345 million/ton), up 128.0% from the beginning of the year.
- Tungsten powder price was priced at RMB 2210/kg, up 104.6% from the beginning of the year.
- Tungsten carbide powder was priced at RMB 2150/kg, up 106.7% from the beginning of the year.
- Cobalt powder price was priced at RMB 580/kg, up 11.5% from the beginning of the year.
- 70% ferrotungsten was priced at RMB 1.33 million/ton, up 104.6% from the beginning of the year.
- European ferrotungsten was priced at USD 270-289/kg W (equivalent to RMB 1.309-1.401 million/ton), up 103.3% from the beginning of the year.
- Scrap tungsten rods were priced at RMB 1360/kg, up 126.7% from the beginning of the year.
- Scrap tungsten drill bits were priced at RMB 1350/kg, up 132.8% from the beginning of the year.
