The recent surge in tungsten prices has been astonishing. Since December 1st, the price of medium-particle tungsten powder has rapidly climbed from RMB 800,000/ton to over RMB 900,000/ton in just 10 days, a 12.5% increase! Currently, tungsten powder prices are approaching the million RMB mark. Whether this breakout is genuine is a matter of debate: some remain bullish and are increasing their bets, while others are taking profits and avoiding risk. The market situation is somewhat chaotic, with a strong wait-and-see attitude. What are your thoughts? Feel free to share them in the comments section!
This strong tungsten price surge cannot be simply attributed to traditional supply and demand logic. Firstly, the supply from major mines remains tight, influenced by policy controls, seasonal production cuts, and emotional reluctance to sell, making it difficult to ease the tight resource situation. Secondly, market sentiment has been further fueled by the strategic premium of tungsten, speculative funds, price increases from large companies' long-term contracts, and year-end restocking expectations.
Looking ahead, whether tungsten prices can reach and stabilize above the million-dollar mark remains uncertain. Short-term market sentiment will continue to dominate, and price volatility is likely to intensify due to speculative trading. In the medium to long term, the price will depend on the health of the industry structure, the balance between supply and demand, and the harmony of the domestic and international political and economic environment.
As of press time,
65% wolframite concentrate is priced at RMB 368,000/ton, up 157.3% from the beginning of the year.
65% scheelite concentrate is priced at RMB 367,000/ton, up 158.5% from the beginning of the year.
Ammonium paratungstate (APT) is priced at RMB 545,000/ton, up 158.3% from the beginning of the year.
European APT is priced at USD 740-800/mtu (equivalent to RMB 462,000-500,000/ton), up 133.3% from the beginning of the year.
Tungsten powder is priced at RMB 900/kg, up 184.8% from the beginning of the year.
Tungsten carbide powder is priced at RMB 870/kg, up 179.7% from the beginning of the year.
Cobalt powder is priced at RMB 510/kg, up 200% from the beginning of the year.
70% ferrotungsten is priced at RMB 510,000/ton, up 137.2% from the beginning of the year.
European ferrotungsten is priced at USD 98-100/kg W (equivalent to RMB 484,000-494,000/ton), up 125% from the beginning of the year.
Scrap tungsten rods are priced at RMB 550/kg, up 150% from the beginning of the year.
Scrap tungsten drill bits are priced at RMB 525/kg, up 130.3% from the beginning of the year.
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