[SMM Tungsten Daily Review: Limited Room for Concession in Raw Material Sector, Tungsten Market to Fluctuate at Highs in Short Term] On June 27, the overall tungsten market showed a consolidation trend at highs. The inventory levels of mainstream ore suppliers in the market were low, and they were reluctant to offer discounts, resulting in limited declines in ore prices and maintaining high quotation levels. Downstream APT enterprises faced poor profitability, with some smelters cutting production and undergoing maintenance.

[SMM Molybdenum Daily Review: Molybdenum Market Decline Slows Down, Market Still Under Pressure] SMM reported on June 27: Today, the molybdenum market operated steadily for the most part. There were few spot orders for molybdenum concentrate, and market offers were scarce. Mines primarily shipped under long-term contracts. The steel bidding prices in the ferromolybdenum market remained low, but with high industry costs, manufacturers were reluctant to lower prices further. Market quotes were relatively stable today.

[SMM Daily Molybdenum Review: Molybdenum Market Continues to Decline Amid Dual Pressures of Off-Season in Stainless Steel Sector and Price-Driving Down in Steel Tenders] SMM News on June 26: The molybdenum market was mainly in the doldrums today. Demand for ferromolybdenum in the stainless steel market declined, leading to a significant drop in tender prices for ferromolybdenum. Suppliers of ferromolybdenum were actively selling their stocks, with quotes noticeably loosening. Prices of downstream molybdenum products were weak, driving down ore prices.

[SMM Tungsten Daily Review: Long-term Contract Price Adjustments and Weak Supply and Demand Suppress Market Sentiment, Tungsten Market Remains Cautious] On June 26, the tungsten market was mainly in a stalemate. Upstream ore mines had low inventory levels and maintained firm quotes. Downstream industries such as APT production were operating at a loss, and demand needed to be stimulated. Rushing to buy amid continuous price rise was not feasible. There was evident back-and-forth negotiations between upstream and downstream, and the market sentiment remained cautious.

[SMM Tungsten Daily Review: Stalemate in Tungsten Market Transactions Between Upstream and Downstream] On June 25, the tungsten market was mainly characterized by a stalemate. Upstream mine inventory was low, and prices remained firm. Downstream industries such as APT were operating at a loss, and demand needed to be stimulated, making it difficult to rush to buy amid continuous price rise. There was obvious back-and-forth negotiations between upstream and downstream, and the market atmosphere was cautious.

[SMM Molybdenum Daily Review: Logic of Declining Demand in Molybdenum Market During Off-Season, Prices Fall Across the Board] SMM News on June 25: Today, the molybdenum market experienced a decline across the board, with weak downstream demand from end-users such as stainless steel, and a strong pessimistic sentiment prevailing in the market.

[SMM Molybdenum Daily Review: Ferromolybdenum Tenders Reappear at Low Prices as Downstream Off-Season Approaches] SMM reported on June 24: The overall molybdenum market performed weakly today, with insufficient end-use demand. Prices of upstream molybdenum products were suppressed, and the market was mainly in the doldrums. As of today, SMM 45% molybdenum concentrate closed at 3,830-3,860 yuan/mtu, down 20 yuan/mtu from the previous day. Downstream restocking was mainly driven by rigid demand.

[SMM Tungsten Daily Review: The Price Spread Between Domestic and Overseas Tungsten Markets Widened Again Today] On June 23, the overseas tungsten market saw a sharp increase, while the domestic market remained in a stalemate. Today, major domestic manufacturers announced the APT prices for the second half of June, which remained flat compared to the first half of the month on a MoM basis. The contradiction between the low inventory of raw materials across the entire industry and the slow follow-up of end-use demand is prominent, and the market sentiment remains cautious.

[SMM Daily Molybdenum Review: Ferromolybdenum Tenders Reappear at Low Prices as Downstream Off-season Approaches] SMM News on June 23: Today, the upstream ore prices in the molybdenum market remained high and stable, while the downstream ferromolybdenum prices showed a slight decline due to factors such as price pressure from steel tenders.

On June 20, major domestic tungsten enterprises successively finalized long-term supply prices for tungsten concentrate and APT products. Among them, the long-term contract price of national standard black tungsten concentrate was locked in the high range of 171,000-172,000 RMB/metric ton-degree, and the APT long-term price was anchored at 251,000 RMB/ton.