SMM Analysis: Raw Material Supply Surge Contributes to Tungsten Price Stabilization with Slight Decline

[SMM Analysis: Increased Raw Material Supply Intentions Lead to Continued Tungsten Price Consolidation] The APT market has seen a slight decline in market prices due to weakened support from raw material costs. During the week, the transaction price center fell from 212,000 yuan/mt to 211,000 yuan/mt.

Constrained by the high procurement prices of tungsten concentrate by smelters in the earlier period, the cost pressure on APT smelters has not significantly eased, resulting in only a narrow decline in transaction prices. Some buyers expect prices to drop to 210,000 yuan/mt, but actual transactions at this level are difficult to achieve.