Tungsten Market Demand Remains Stable, High-Price Transactions Encounter Resistance [SMM Tungsten Daily Review]

Published: Jan 16, 2025 13:19

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[SMM Tungsten Daily Review: Stable Demand in Tungsten Market, High-Price Transactions Encounter Resistance] Today, the domestic tungsten market demand remained stable. Downstream enthusiasm for purchasing high-priced raw materials was moderate, with no significant support observed, making it difficult to conclude transactions at high price levels and leading to differing opinions among market participants. Due to a reluctance to sell, low-price purchases of tungsten ore became challenging, and traders faced difficulties in acquiring goods at low prices, increasing risks. As a result, they were unwilling to purchase at high prices. The market trading volume shrank, and the market showed a stalemate trend.

SMM January 16 News:

Today, tungsten prices remained generally stable. At the turn of the year, domestic tungsten market demand was calm.

【Quotation Overview】

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

55% Black Tungsten Concentrate: 143,500-144,000 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】

Today, domestic tungsten market demand remained stable. Downstream enthusiasm for purchasing high-priced raw materials was moderate, with no significant support observed, making high-price transactions difficult to achieve and leading to divergent views among market participants. Due to a reluctance to sell, low-price procurement of tungsten concentrate became challenging, and traders faced increased risks in low-price purchases, making them unwilling to buy at high prices. As a result, trading volume shrank, and the market exhibited a stalemate.

Under the pressure of inverted prices, smelters maintained stable external quotations. Downstream buyers generally pushed for lower prices, with insufficient order releases and procurement limited to just meeting immediate needs, resulting in a tug-of-war market consolidation.

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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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