The tax-included procurement prices for long-term contracts of tungsten raw materials by Guangdong Xianglu Tungsten in the second half of April are as follows: 55% black tungsten concentrate at 145,000 yuan/mt, 55% white tungsten concentrate at 144,000 yuan/mt, and APT at 215,000 yuan/mt. The prices were up 3,000 yuan/mt MoM for black tungsten concentrate, 3,000 yuan/mt MoM for white tungsten concentrate, and 4,000 yuan/mt MoM for APT. Various groups have released long-term contract pricing, with overall prices showing an upward trend. Currently, upstream players have gained pricing dominance by leveraging tight spot supply, putting pressure on the tungsten smelting industry. Downstream markets are cautiously following the price increases due to weak demand.