The overall tungsten market remained stable today. From January to May, tungsten product exports decreased by nearly 30% YoY [SMM Tungsten Daily Review]

Published: Jun 18, 2025 17:20

Save

[SMM Tungsten Daily Review: Tungsten Market Remained Stable Overall Today, with Tungsten Product Exports Down Nearly 30% YoY from January to May] Today, the tungsten market operated in a stable manner. Upstream suppliers mainly made shipments under long-term contract, while downstream smelters and cemented carbide enterprises saw weakened operations, primarily replenishing raw materials as needed.

SMM News on June 8:

Today, the tungsten market is mainly operating steadily. Upstream suppliers are mostly shipping under long-term contracts. Downstream smelters and alloy enterprises have seen a weakening in their operations, primarily replenishing raw materials on a need-based basis.
Ore side: As of June 18, SMM's black tungsten concentrate (65%) closed at 172,000-173,000 yuan/metric ton, unchanged from the previous trading day. There are no reports of increased production at the ore side, and market inventory levels remain low, limiting the potential for significant price adjustments.
Ammonium paratungstate: Today, SMM's ammonium paratungstate (≥88.5%) is quoted at 250,000-254,000 yuan/mt, with an average price of 252,000 yuan/mt, unchanged from the previous trading day. Affected by some suppliers' cashing out for arbitrage, the market liquidity of ammonium paratungstate has improved. Coupled with weakening orders from downstream enterprises, the market is under pressure, and prices have shown a slight decline. However, given the current poor industry profitability, cost support from enterprises remains strong.
In the short term, geopolitical instability on the macro front and expectations of increased demand from overseas military sectors are strengthening. From a fundamental perspective, domestic tungsten product exports are still under restrictions, with a significant decline in tungsten product exports. According to the latest customs data, in May 2025, China's total tungsten product exports were approximately 968 mt, a year-on-year decrease of 32%. From January to May 2025, China's total tungsten product exports reached around 4,544 mt, a year-on-year decrease of 29.9%. In the short term, the tungsten market is expected to see high-level consolidation in costs, but weak end-use demand is suppressing price increases. The tug-of-war between longs and shorts is likely to maintain high-level consolidation.

[Quotation Status]

》View SMM's tungsten and molybdenum product quotations, data, and market analysis

》Click to view SMM's molybdenum spot quotations

》Subscribe to view SMM's historical price trends for metal spot products

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

22 hours ago

A mine in Henan opened bids for a 300 mt tungsten concentrate auction on February 6.

[Tungsten Concentrate Tender Information] SMM February 7: A mine in Henan conducted an online tender on February 6 to sell 300 metric tons of low-grade tungsten concentrate. Lot A had an average WO3 grade of ≥25%, while Lots B and C had an average WO3 grade of ≥22%. The tender results for each lot are as follows: Lot A: 100 metric tons, tender price of 10,155 yuan/mtu. Lot B: 100 metric tons, tender price of 10,160 yuan/mtu. Lot C: 100 metric tons, tender price of 10,155 yuan/mtu.

22 hours ago

23 hours ago

Ganzhou Tungsten Association Significantly Raises Tungsten Price Forecast for February 2026

[Ganzhou Tungsten Industry Association's February Tungsten Price Forecast] The Ganzhou Tungsten Industry Association's forecast prices for the tungsten market in February 2026 are as follows: 55% black tungsten concentrate at 670,000 yuan per metric ton unit, up 210,000 yuan per metric ton unit MoM from the January price, an increase of 45.65%; ammonium paratungstate at 970,000 yuan/mt, up 300,000 yuan/mt MoM, an increase of 44.78%; medium-grain tungsten powder at 1,630 yuan/kg, up 480 yuan/kg MoM, an increase of 41.74%.

23 hours ago

Tungsten Market Rallies Strongly, Long-Term Contract Prices Surge & Domestic-Overseas Markets Link Up

Driven by tight spot raw material supply, a sharp hike in corporate long-term contract prices and festive effects, the tungsten market saw price rises on shrinking volumes this week with domestic and overseas markets moving up in tandem; the strong short-term trend is set to continue, and attention should be paid to the resumption of cemented carbide production, scrap tungsten supply and downstream demand release after the Spring Festival.

23 hours ago