The tungsten market holds up well, with the price of ammonium paratungstate (APT) rapidly rising to 260,000 yuan/mt [SMM Tungsten Daily Review]

On July 16, the tungsten market maintained a strong upward trend. The ore market saw tight supply, with suppliers holding onto their stocks in anticipation of price increases, leading to a continued rise in the center of spot order transactions. Downstream ammonium paratungstate (APT) producers faced significant cost pressure and were reluctant to sell at lower prices, with quotes mainly following the upward trend. Overall market transactions were moderate.

Ore Market: As of July 16, SMM's black tungsten concentrate (65%) closed at 178,000-179,000 yuan/metric ton (mt), up 1,000 yuan/mt from the previous trading day. Market inventory remained low, with upstream suppliers mainly shipping under long-term contracts and downstream buyers restocking based on immediate needs. Overall transactions were stable.

Ammonium Paratungstate (APT): Today, SMM's APT (≥88.5%) was quoted at 260,000-262,000 yuan/mt, up 4,000 yuan/mt from the previous trading day, reaching a new high. APT smelters were driven by strong cost pressures, leading to a rapid market price increase. Downstream powder producers mainly restocked based on immediate needs, with some APT producers not providing quotes and mainly delivering under long-term contracts.

In the short term, the ore market saw significant price increases in the first half of July due to expectations of reduced supply, with strong cost-driven factors in the tungsten market. Additionally, the upward adjustment of long-term contract prices by mainstream enterprises in early July also played a role in stabilizing and supporting prices. Downstream producers and traders were optimistic about the future market, with increased restocking willingness, active market transactions, and boosted market confidence.

》Check SMM's tungsten and molybdenum product quotes, data, and market analysis

》Click to view SMM's molybdenum spot quotes

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