Trading Awaits Follow-Up, Tungsten Market Ends Steady [SMM Tungsten Daily Review]

SMM December 31 News:

On the last working day of 2024, the domestic tungsten market concluded steadily.

【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】

Today, the support for tungsten prices from the raw material side remained strong, with negotiations for 55-60% tungsten concentrate reaching 142,000 yuan/mtu and above. APT quotations were generally at 212,000 yuan/mt. The market showed prices without transactions, and post-New Year’s Day transactions based on year-end restocking demand remain to be followed up.

The tungsten powder market remained temporarily calm, and specific demand follow-up will depend on whether end-user restocking can proceed after price adjustments in next year’s hard alloy market. Tungsten prices are expected to at least maintain the current price level in the short term.

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