Cost Support Continues to Strengthen, Tungsten Market Prices Expected to Rise as Confidence Rebounds [SMM Tungsten Daily Review]

Published: Dec 30, 2024 17:38

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[SMM Tungsten Daily Review: Cost Support Continues to Strengthen, Tungsten Market Prices Awaiting Increase with Rebounding Confidence] As the New Year approaches, the tungsten market is expected to see restocking driven by rigid demand, with a potential concentrated release after the holiday, injecting confidence into the upstream market and maintaining positive market sentiment. Negotiations for 55% black tungsten concentrate prices are centered around 141,000 yuan/mt, while APT prices have risen to 211,000 yuan/mt, with trading volumes yet to increase significantly. Tungsten powder prices remain stable for now, with inquiries increasing, but actual transactions will require further observation after the holiday. Overall, tungsten prices have shown signs of stabilizing, but an upward trend still requires more support from trading volume.

SMM, December 30:

At the beginning of the week, tungsten market prices remained stable: tungsten concentrate prices held firm, downstream market demand followed up, and market sentiment improved.

【Quotation Overview】

65% Black Tungsten Concentrate: 142,500-143,000 yuan/mtu

55% Black Tungsten Concentrate: 140,500-141,000 yuan/mtu

APT: 210,000-211,000 yuan/mt

Tungsten Powder: 313-316 yuan/kg

Tungsten Carbide Powder: 308-311 yuan/kg

70% Ferro-Tungsten: 213,000-215,000 yuan/mt

80% Ferro-Tungsten: 219,000-221,000 yuan/mt

【Market Dynamics】

With the approach of the New Year, the tungsten market is expected to see replenishment of rigid demand, which may be released intensively after the holiday, injecting confidence into the upstream market and maintaining positive market sentiment.

Negotiations for 55% black tungsten concentrate centered around 141,000 yuan/mtu, while APT prices rose to 211,000 yuan/mt. Trading volumes have not yet increased significantly; tungsten powder prices remained stable, with an increase in inquiries, but actual transactions are expected to be observed further after the holiday.

Overall, tungsten prices have shown signs of stabilizing, but an upward trend still requires more support from trading volume.

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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