The tungsten market is experiencing ore supply tightness, but whether the high prices will continue to rise remains to be seen based on the actual trading volume in the market. In the APT bulk market, the supply tightness of ore has led to a rise in tungsten concentrate prices, resulting in severe losses, with only a small amount of trading volume. In the tungsten powder market, producers have raised their offers, but the trading volume at high prices is poor. Downstream alloy factories have adopted a just-in-time procurement strategy, showing limited acceptance of high-priced powder.