Market Demand Remains Weak, Tungsten Market Lacks Momentum [SMM Tungsten Daily Review]

Published: Mar 10, 2025 11:23

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[SMM Tungsten Daily Review: Market Demand Remains Weak, Tungsten Market Lacks Momentum] The current situation of tight supply in the market has changed relatively little, and suppliers have limited room for price concessions. However, due to persistently weak demand, market participants show low purchase willingness, and overall transactions are stuck in a demand-driven stalemate. Affected by unfavourable factors such as weak downstream demand, a challenging foreign trade environment, and the reduction in long-term contract prices, smelters have recently exhibited low market sentiment and lack confidence. Insufficient downstream market orders and slow inventory digestion have resulted in a lack of momentum in the recent market trend.

SMM March 10 News:

The tungsten market today continued to show a weak adjustment trend, with overall sentiment dominated by a wait-and-see attitude.

【Price Quotations】

65% Black Tungsten Concentrate: 139,500-140,500 yuan/standard mt

55% Black Tungsten Concentrate: 137,500-138,500 yuan/standard mt

APT: 207,000-208,500 yuan/mt

Tungsten Powder: 312-314 yuan/kg

Tungsten Carbide Powder: 307-309 yuan/kg

70% Ferro-Tungsten: 215,000-217,000 yuan/mt

80% Ferro-Tungsten: 219,000-221,000 yuan/mt

【Market Dynamics】

The current tight supply situation in the market has not changed significantly, and suppliers have limited room for price concessions. However, due to persistently weak demand, market participants showed low purchase willingness, and overall transactions remained in a stalemate, conducted on an as-needed basis. Affected by unfavourable factors such as weak downstream demand, a challenging foreign trade environment, and the downward adjustment of long-term contract prices, smelters have recently exhibited low market sentiment and a lack of confidence. Insufficient downstream orders and slow inventory digestion have left the market lacking momentum in the near term.

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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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