[SMM Commentary: Tight Supply in Tungsten Mining Sector Drives Tungsten Prices to Record Highs, Up Nearly 17% Year-to-Date] Factors contributing to the tight supply in the tungsten market, such as the decline in the first batch of total tungsten ore mining control indicators for the year, the decrease in ore grade, and extremely low inventory of high-grade tungsten ore, have supported tungsten prices. Some suppliers are optimistic about the boost to future tungsten demand from global military upgrades and emerging industries, leading to strong reluctance among suppliers to sell. Low-priced tungsten is hard to find in the market, and tungsten prices have risen % year-to-date, breaking their previous record high. According to SMM, the market transaction price for high-grade tungsten ore exceeded 170,000 yuan/metric tonne in the afternoon of May 29.