[SMM Analysis: Upstream Ore Supply Leads the Gains, Tungsten Market Climbs Again] Entering July, the tungsten market was once again driven by the positive impact of ore supply tightness, with prices climbing upwards. The circulation of tungsten concentrate in the market was tight, making it difficult for downstream players to restock. The center of transaction prices for spot orders rose steadily. As of today, SMM 65% black tungsten concentrate closed at 178,500 yuan/mt, up about 25% from the beginning of the year.

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