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

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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