On Monday, tungsten prices continued their upward trend, driven primarily by tight supply and high prices in the raw material market, firm quotes from major tungsten producers, restocking by downstream demand, and the continued rise in international tungsten prices.
Following the release of price quotes from industry institutions and large tungsten producers in major producing regions last Friday, bullish sentiment in the market was further solidified. The price increases in the tungsten mining and tungsten chemical sectors slowed slightly, while the tungsten powder segment showed a clear willingness to push up prices. Downstream alloy and product manufacturers generally adopted a cautious approach to purchasing based on rigid demand. Price transmission within the tungsten industry chain faced some resistance, and market trading activity was limited.
As of press time,
65% wolframite concentrate was priced at RMB 354,000/ton, up 147.6% from the beginning of the year.
65% scheelite concentrate was priced at RMB 353,000/standard ton, up 148.6% from the beginning of the year.
Ammonium paratungstate (APT) was priced at RMB 523,000/ton, up 147.9% from the beginning of the year.
European APT was priced at USD 740-800/mtu (equivalent to RMB 463,000-500,000/ton), up 133.3% from the beginning of the year.
Tungsten powder was priced at RMB 840/kg, up 165.8% from the beginning of the year.
Tungsten carbide powder was priced at RMB 810/kg, up 160.5% from the beginning of the year.
Cobalt powder was priced at RMB 510/kg, up 200% from the beginning of the year.
70% ferrotungsten was priced at RMB 483,000/ton, up 124.7% from the beginning of the year.
European ferrotungsten was priced at USD 98-100/kg W (equivalent to RMB 485,000-495,000/ton), up 125% from the beginning of the year.
Scrap tungsten rods were priced at RMB 505/kg, up 129.5% from the beginning of the year.
Scrap tungsten drill bits were priced at RMB 485/kg, up 112.7% from the beginning of the year.
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