Suppliers Exhibit Strong Reluctance to Sell, Market Transactions Remain Sparse [SMM Tungsten Daily Review]

Published: Feb 7, 2025 15:45

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[SMM Tungsten Daily Review: Strong Sentiment of Reluctance to Sell Among Suppliers, Sparse Market Transactions] Currently, due to the reluctance to sell and the stand firm on quotes sentiment on the supply side of mines, downstream smelting products can only passively adjust prices. As the Chinese New Year holiday gradually comes to an end, most enterprises have resumed normal operations, though some employees are still on leave. Consequently, market transactions are gradually recovering, but the liquidity of spot resources remains limited. Although many industry participants remain optimistic about the market outlook, the specific trend requires further observation.

SMM, February 7:

Today, tungsten prices showed a relatively stable with strong trend, with limited market transactions.

【Price Quotations】

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

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

APT: 212,500-213,500 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, due to the reluctance to sell and the stand firm on quotes atmosphere on the supply side of mines, downstream smelting products have to passively adjust prices. As the Chinese New Year holiday gradually comes to an end, most enterprises have resumed normal operations, though some employees are still on leave. Consequently, market transactions are gradually recovering, but the liquidity of spot resources remains limited. Although many industry participants remain optimistic about the market outlook, the specific trend requires further observation.

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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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