Tungsten market fluctuates at highs, with APT, tungsten powder and other products rising again [SMM Tungsten Daily Review]

Published: Jun 5, 2025 14:03

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[SMM Tungsten Daily Review: Tungsten Market Fluctuates at Highs, APT and Tungsten Powder Products Rise Again] On June 5, the overall performance of the tungsten market was sluggish. Upstream ore suppliers awaited guidance on long-term contract prices from mines, resulting in fewer transactions in the market. Downstream ferrotungsten and tungsten powder prices rose again.

SMM News on June 5:

The overall tungsten market remained in a stalemate today. Upstream ore suppliers are waiting for guidance on long-term contract prices from mines, resulting in fewer transactions in the market. Downstream ferrotungsten and tungsten powder prices have risen again.

Ore Segment: Today, SMM's black tungsten concentrate (65%) closed at 171,000-172,000 yuan/mt (metric ton), unchanged from the previous trading day. The market circulation of tungsten concentrate is tight, with suppliers offering firm quotes. The market anticipates an increase in long-term contract prices from mines. Downstream players are cautious about purchasing due to high prices.

Ammonium Paratungstate (APT): Today, SMM's APT (≥88.5%) is quoted at 250,000-254,000 yuan/mt, with an average price of 252,000 yuan/mt, up 1,000 yuan/mt from the previous trading day. Sporadic high-price transactions have occurred in the market. Downstream purchasing power is moderate. Currently, APT costs are driving the market strongly, and it is expected to remain strong in the short term.

Ferrotungsten: Today, SMM's ferrotungsten (≥70%) is quoted at 250,000-253,000 yuan/mt, with an average price of 251,500 yuan/mt. The industry price has finally broken through the 250,000 yuan/mt threshold, reaching a record high. The high cost of upstream ore for ferrotungsten, coupled with poor industry profitability, supports the price increase driven by cost logic. Downstream industries such as high-speed steel have moderate industry orders, and market transactions are also moderate.

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