Chinese New Year Approaching, Raw Materials Tightening, Market Prices Remain Firm [SMM Tungsten Daily Review]

SMM, January 13:

Today, with the rise in tungsten concentrate prices, ammonium paratungstate (APT) prices have slightly increased.

【Price Quotations】

65% Black Tungsten Concentrate: 144,500-145,000 yuan/mtu

55% Black Tungsten Concentrate: 143,000-144,000 yuan/mtu

APT: 211,000-213,000 yuan/mt

Tungsten Powder: 318-320 yuan/kg

Tungsten Carbide Powder: 309-312 yuan/kg

70% Ferro-Tungsten: 215,000-217,000 yuan/mt

80% Ferro-Tungsten: 220,000-222,000 yuan/mt

【Market Dynamics】

Currently, tungsten market prices are primarily influenced by factors on the mining side. As the Chinese New Year approaches, mines have successively ceased production and gone on holiday, leading to a gradual reduction in supply. This has kept tungsten concentrate prices firm, providing strong support for the tungsten market. Traders, facing difficulties in replenishing supplies, tend to hold onto their stock and are reluctant to sell, while smelters struggle to procure at favorable prices.

Meanwhile, downstream market demand remains sluggish, intensifying the tug-of-war between upstream and downstream players. Overall, tungsten prices have remained relatively stable, though there is still potential for a slight rise.

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