Market Prices Slightly Rise; Back-and-Forth Negotiations Between Upstream and Downstream Remain Intense [SMM Tungsten Daily Review]

Published: Jan 17, 2025 13:05

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[SMM Tungsten Daily Review: Market Prices Slightly Rise, Intense Back-and-Forth Negotiations Between Upstream and Downstream Persist] Currently, large-scale stockpiling purchases from downstream have yet to materialize, and many smelters have begun gradually halting production for maintenance. In the ongoing negotiations between costs and demand, the upstream and downstream of the industry chain exhibit differentiation. As the Chinese New Year approaches, the phenomenon of price without market is becoming increasingly evident.

SMM, January 17:

Today, the domestic tungsten market continued its steady slight upward trend, with overall supply remaining tight and prices relatively high.

【Price Quotations】

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

55% Black Tungsten Concentrate: 143,500-144,000 yuan/mtu

APT: 212,500-213,000 yuan/mt

Tungsten Powder: 318-320 yuan/kg

Tungsten Carbide Powder: 309-313 yuan/kg

70% Ferro-Tungsten: 215,000-220,000 yuan/mt

80% Ferro-Tungsten: 220,000-225,000 yuan/mt

【Market Dynamics】

Currently, large-scale stockpiling purchases from downstream have yet to emerge, and many smelters have begun to gradually suspend production for maintenance. In the ongoing tug-of-war between costs and demand, the upstream and downstream segments of the industry chain are showing differentiation. As the Chinese New Year approaches, the phenomenon of high prices but low transactions is becoming increasingly evident.

Although there are slight upward price intentions in some regions, actual transactions remain challenging, with poor alignment between market supply and demand. Most actual transactions are still negotiated based on demand, resulting in limited overall market momentum.

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