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

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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