Market Demand Remains Sluggish, Tungsten Prices Show Weak Trend [SMM Tungsten Daily Review]

Published: Mar 3, 2025 15:04

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[SMM Tungsten Daily Review: Weak Market Demand Leads to Soft Tungsten Prices] Currently, downstream alloy enterprises are significantly affected by export control policies, resulting in a strong wait-and-see sentiment among these enterprises. Meanwhile, domestic market demand remains relatively weak, with most enterprises maintaining orders at normal production levels and procurement primarily based on demand, keeping the overall pace stable. As downstream enterprises' inventory gradually decreases, domestic market demand is expected to grow by mid-to-late March. However, export conditions still require further observation.

SMM March 3 News:

Today, tungsten market prices continued to show a weak trend, and the overall market atmosphere remained subdued.

【Quotation Details】

65% Black Tungsten Concentrate: 142,000-143,000 yuan/standard mt

55% Black Tungsten Concentrate: 140,000-141,000 yuan/standard mt

APT: 209,000-211,000 yuan/mt

Tungsten Powder: 313-317 yuan/kg

Tungsten Carbide Powder: 308-312 yuan/kg

70% Ferro-Tungsten: 216,000-218,000 yuan/mt

80% Ferro-Tungsten: 220,000-222,000 yuan/mt

【Market Dynamics】

Currently, downstream alloy enterprises are significantly affected by export control policies, leading to a cautious sentiment among these enterprises. Meanwhile, domestic market demand remains relatively sluggish, with most enterprises maintaining orders at normal production levels and procurement mainly based on demand, keeping the overall pace stable.

As downstream enterprises' inventory gradually decreases, domestic market demand is expected to grow in mid-to-late March. However, export conditions still require 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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