On Monday, the high prices in the tungsten market continued to escalate. This was driven by two factors: news of year-end maintenance and production cuts at mines and smelters, and the strengthening of international tungsten prices, leading to disorderly price jumps in the market. However, the risks of high prices and financial pressures are also accumulating, resulting in a divergence between price and volume in the market, and a tense market sentiment.
In the tungsten concentrate market, due to considerations of year-end market trends and the influence of environmental protection and safety factors, mining operations are proceeding at a slower pace, resulting in a significantly tighter supply and providing a solid foundation for prices across the entire industry chain.
65% wolframite concentrate was priced at RMB 383,000/ton, up 167.8% from the beginning of the year.
65% scheelite concentrate was priced at RMB 382,000/ton, up 169.0% from the beginning of the year.
In the ammonium paratungstate market, announcements of cyclical production cuts by smelters have exacerbated the tight supply situation. Coupled with cost support, prices remain high, with transactions primarily consisting of long-term contracts.
Domestic APT was priced at RMB 580,000/ton, up 174.9% from the beginning of the year.
European APT was priced at USD 800-825/mtu (equivalent to RMB 500,000-515,000/ton), up 146.2% from the beginning of the year.
In the tungsten powder market, suppliers are actively pursuing higher prices, but buyers are primarily driven by risk aversion. The market is in a highly sensitive period, with very little active trading.
Tungsten powder was priced at RMB 940/kg, up 197.5% from the beginning of the year.
Tungsten carbide powder was priced at RMB 900/kg, up 189.4% from the beginning of the year.
Cobalt powder was priced at RMB 510/kg, up 200% from the beginning of the year.
In the ferrotungsten market, prices are mainly adjusted according to raw material cost transmission and international price fluctuations, with a firm market trend.
70% ferrotungsten was priced at RMB 530,000/ton, up 146.5% from the beginning of the year.
European ferrotungsten was priced at USD 102.65-109.5/kg W (equivalent to RMB 507,000-541,000/ton), a 141.1% increase since the beginning of the year.
In the tungsten waste and scrap market, with raw material prices continuing to adjust more than expected, recyclers' sentiment was mixed, with both those holding onto their stock in anticipation of price increases and those wanting to sell and cash out, resulting in overall tightening liquidity.
Scrap tungsten rods were priced at RMB 565/kg, a 156.8% increase since the beginning of the year.
Scrap tungsten drill bits were priced at RMB 535/kg, a 134.6% increase since the beginning of the year.
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