Tungsten prices surged this week, with major tungsten raw material prices rising by 12-18% weekly, and the cumulative increase this year exceeding 200%!
In the tungsten concentrate market, supply remains tight, and mines are maintaining firm prices.
65% wolframite concentrate is priced at RMB 430,000/ton, up 15.3% week-on-week and 200.7% year-to-date.
65% scheelite concentrate is priced at RMB 429,000/ton, up 15.3% week-on-week and 202.1% year-to-date.
In the ammonium paratungstate (APT) market, raw material procurement is difficult, and year-end routine maintenance has reduced market operating rates, resulting in a tight supply and high prices.
Domestic APT is priced at RMB 650,000/ton, up 17.1% week-on-week and 208.1% year-to-date.
European APT is priced at USD 800-825/mtu (equivalent to RMB 499,000-514,000/ton), up 5.5% week-on-week and 146.2% year-to-date.
In the tungsten powder market, mainstream prices quickly broke through the RMB 1,000 mark and continued their upward trend, although participants became more cautious. Cemented carbide companies faced high-cost pressures, resulting in limited new order releases.
Tungsten powder is priced at RMB 1,030/kg, up 13.2% week-on-week and 226.0% year-to-date.
Tungsten carbide powder is priced at RMB 990/kg, up 12.5% week-on-week and 218.3% year-to-date.
Cobalt powder is priced at RMB 515/kg, up 1.0% week-on-week and 202.9% year-to-date.
In the ferrotungsten market, raw material shortages and production costs jointly drove up product prices, but weak consumption in the steel industry squeezed ferrotungsten manufacturers' profit margins, leading to timely year-end maintenance shutdowns.
70% ferrotungsten is priced at RMB 610,000/ton, up 17.3% week-on-week and 183.7% year-on-year.
European ferrotungsten is priced at USD 109-121/kg W (equivalent to RMB 537,000-596,000/ton), up 12.9% week-on-week and 161.4% year-on-year.
In the tungsten waste and scrap market, following the rising prices in the primary market, holders were hesitant about whether to hold onto their stock and wait for further price increases or to cash in their profits, resulting in cautious market circulation.
Scrap tungsten rods are priced at RMB 620/kg, up 11.7% week-on-week and 181.8% year-on-year.
Scrap tungsten drill bits are priced at RMB 585/kg, up 10.4% week-on-week and 156.6% year-on-year.
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