This week, the tungsten market continued its strong upward trend, with prices across all segments rapidly breaking through key psychological levels. As of now, domestic tungsten concentrate has surpassed RMB 370,000/ton, APT has broken through RMB 550,000/ton, Tungsten powder has risen to RMB 910,000/ton.
The fierce rally in the upstream has quickly transmitted downstream. Facing the dual pressure of rapidly rising costs and insufficient follow-through from end-user demand, downstream tungsten product manufacturers are caught in a dilemma, forced to passively adjust product prices and cautiously control procurement and sales, resulting in limited new orders overall. Some market participants are concerned that the current surge has overly overdrawn future upside potential, and attitudes have become more cautious.
Tungsten prices have now risen continuously for nearly two months, with a cumulative increase of approximately 40%. As the year-end summary and planning period approaches, although the tight supply situation still supports prices to fluctuate at high levels in the short term, the pressure of tightening liquidity and declining investor risk appetite may gradually emerge, adding uncertainty to the outlook. Where will the tungsten market go by the end of the year? We welcome your insights in the comments section for discussion.
As of press time,
65% wolframite concentrate was priced at RMB 373,000/ton, up 5.7% week-on-week and 160.8% year-on-year.
65% scheelite concentrate was priced at RMB 372,000/ton, up 5.7% week-on-week and 162.0% year-on-year.
Ammonium paratungstate (APT) was priced at RMB 555,000/ton, up 7.1% week-on-week and 163.0% year-on-year.
European APT was priced at USD 740-800/mtu (equivalent to RMB 462,000-500,000/ton), up 1.7% week-on-week and 133.3% year-on-year.
Tungsten powder was priced at RMB 910/kg, up 10.3% week-on-week and 188.0% year-on-year.
Tungsten carbide powder was priced at RMB 880/kg, up 10.7% week-on-week and 183.0% year-on-year.
Cobalt powder was priced at RMB 510 yuan/kg, unchanged week-on-week, but up 200% year-on-year.
70% ferrotungsten was priced at RMB 520,000/ton, up 8.8% week-on-week and up 141.9% year-on-year.
European ferrotungsten was priced at USD 98.5-105/kg W (equivalent to RMB 486,000-519,000/ton), up 5.1% week-on-week and up 131.6% year-on-year.
Scrap tungsten rod was priced at RMB 555/kg, up 9.9% week-on-week and up 152.3% year-on-year.
Scrap tungsten drill bit was priced at RMB 530/kg, up 10.4% week-on-week and up 132.5% year-on-year.
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