Tungsten Market Sees Mild Rebound as Supply Is Tight and Price Adjustments Intertwine [SMM Tungsten Daily Review]

Published: Jan 21, 2025 13:52

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[SMM Tungsten Daily Review: Mild Rebound in Tungsten Market Amid Tight Supply and Price Adjustments] The domestic tungsten market continues its upward trend, with the overall market showing a mild and slight rebound. Due to maintenance and shutdowns at mines and smelters, the supply of raw materials remains tight, and suppliers are evidently reluctant to sell or lower prices. Additionally, large tungsten enterprises have raised long-term contract prices in the second half of the month, providing new positive stimulus and support to the market. However, with the Chinese New Year holiday approaching, the pre-holiday price increase may narrow.

SMM, January 21:

Today, the domestic tungsten market continued to rise, with market offers remaining firm.

【Quotation Details】

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

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

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】

The domestic tungsten market continued its upward trend, with the overall market showing a mild rebound. Due to maintenance and shutdowns at mines and smelters, raw material supply remained tight, and suppliers were noticeably reluctant to sell or lower prices.

Additionally, large tungsten enterprises raised their long-term contract prices in the second half of the month, providing new positive momentum and support to the market. However, with the Chinese New Year holiday approaching, the pre-holiday price increase may narrow.

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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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