On Monday, tungsten prices remained firm, partly due to the clear hoarding by mines and smelters to support the market, and partly due to relatively strong quotations released by industry institutions and listed tungsten companies in Jiangxi last Friday. Currently, supply is relatively limited, with holders controlling their sales pace to maintain prices. On the demand side, speculative buying has increased, while actual consumption remains cautious, focusing on rigid demand. It is expected that the tungsten market will maintain a stable price level in the short term due to the tight supply-demand balance; however, the actual volume and sustainability of transactions need further verification. Tungsten products newly prices as followings.

• 65% wolframite concentrate: RMB 510,000/ton, down 51.4% from its peak, but up 10.9% year-to-date.
• 65% scheelite concentrate: RMB 509,000/ton, down 51.5% from its peak, but up 10.9% year-to-date.
• Ammonium paratungstate (APT): RMB 780,000/ton, down 48.7% from its peak, but up 16.4% year-to-date.
• European APT: USD 2,900-3,180/mtu (equivalent to RMB 1.741-1.909 million/ton), down 3.2% from its peak but up 230.4% year-to-date.
• Tungsten powder: RMB 1,250/kg, down 47.9% from its peak but up 15.7% year-to-date.
• Tungsten carbide powder: RMB 1,200/kg, down 48.7% from its peak but up 15.4% year-to-date.
• Cobalt powder: RMB 545/kg, down 6.0% from their year-to-date high but up 4.8% year-to-date.
• 70% ferrotungsten: RMB 770,000/ton, down 45.8% from its peak but up 18.5% year-to-date.
• European ferrotungsten: USD 200-230/kg W (equivalent to RMB 950,000-1.092 million/ton), down 33.9% from its peak but up 56.4% year-to-date.
• Scrap tungsten carbide rod: RMB 800/kg, down 40.9% from its peak, but up 35.0% year-to-date.
• Scrap tungsten carbide drill bit: RMB 750/kg, down 44.5% from its peak, but up 31.0% year-to-date.