Cost Support Continues to Strengthen, Tungsten Market Prices Expected to Rise as Confidence Rebounds [SMM Tungsten Daily Review]

SMM, December 30:

At the beginning of the week, tungsten market prices remained stable: tungsten concentrate prices held firm, downstream market demand followed up, and market sentiment improved.

【Quotation Overview】

65% Black Tungsten Concentrate: 142,500-143,000 yuan/mtu

55% Black Tungsten Concentrate: 140,500-141,000 yuan/mtu

APT: 210,000-211,000 yuan/mt

Tungsten Powder: 313-316 yuan/kg

Tungsten Carbide Powder: 308-311 yuan/kg

70% Ferro-Tungsten: 213,000-215,000 yuan/mt

80% Ferro-Tungsten: 219,000-221,000 yuan/mt

【Market Dynamics】

With the approach of the New Year, the tungsten market is expected to see replenishment of rigid demand, which may be released intensively after the holiday, injecting confidence into the upstream market and maintaining positive market sentiment.

Negotiations for 55% black tungsten concentrate centered around 141,000 yuan/mtu, while APT prices rose to 211,000 yuan/mt. Trading volumes have not yet increased significantly; tungsten powder prices remained stable, with an increase in inquiries, but actual transactions are expected to be observed further after the holiday.

Overall, tungsten prices have shown signs of stabilizing, but an upward trend still requires more support from trading volume.

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