Tungsten Market Trading Sentiment Remains Sluggish, Market Confidence Weak [SMM Tungsten Daily Review]

Published: Mar 12, 2025 11:09

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[SMM Tungsten Daily Review: Tungsten Market Trading Sentiment Remains Sluggish, Market Confidence Weak] Currently, the tungsten market exhibits a price trend that is stable with a weak trend, reflecting to some extent the unresolved stalemate in market fundamentals. The scarcity of ore resources at the mining end and the weakness in end-use demand together create an unfavorable supply and demand situation in the market. Meanwhile, smelters in the intermediate stages face dual pressures of inventory buildup and inverted pricing. Overall market confidence remains weak, affecting the trading sentiment within the industry. Most traders, under such circumstances, opt for cautious operations and follow market trends, while the overall market's reliance on rigid demand for commodity circulation appears to be progressing at a slow pace.

SMM March 12 News:

The tungsten market remained sluggish today, with an overall cautious and wait-and-see sentiment.

【Price Information】

65% Black Tungsten Concentrate: 139,000-140,000 yuan/mtu

55% Black Tungsten Concentrate: 137,000-138,000 yuan/mtu

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

Tungsten Powder: 311-313 yuan/kg

Tungsten Carbide Powder: 306-308 yuan/kg

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

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

【Market Dynamics】

Currently, the tungsten market exhibits a stable with a weak trend in pricing, reflecting to some extent the unresolved stalemate in market fundamentals. The scarcity of resources at the mining end and the weak end-use demand together create an unfavorable supply and demand situation. Meanwhile, smelters in the intermediate segment face dual pressures of inventory buildup and inverted pricing. Overall market confidence remains weak, affecting the trading atmosphere within the industry. Most traders, under such circumstances, opt for cautious operations and follow market trends, while the overall market relies on rigid demand for commodity circulation, which appears to be progressing at a slow pace.

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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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