A tungsten company in Guangdong released its long-term contract prices for the second half of May.

[Tungsten Brief] SMM reported on May 25 that the tungsten market underwent weak consolidation today. Transactions in the tungsten concentrates market were scarce. Some spot order transaction prices remained lower than long-term contract prices, but sellers had limited room for price concessions. The market showed signs of consolidating at lows and stabilizing. The negotiation range for grades above 55% was concentrated at 390,000-400,000 yuan/standard tonne (65%WO3 basis), while transaction price spreads for medium- and low-grade ore were relatively large. SMM 65% wolframite concentrates closed at 400,500 yuan/standard tonne (65%WO3 basis) today, down 10,000 yuan/standard tonne (65%WO3 basis) WoW. APT market prices mainly remained stable today. The industry implemented production cuts to support prices. Mainstream enterprises primarily issued long-term contracts, with some spot order transactions concentrated around 600,000 yuan/mt. Downstream enterprises mainly restocked on a just-needed basis.

SMM News, May 21： Since mid-March, China's tungsten market has ended a year-long sharp rally and entered a high-level correction phase with prices trending steadily lower. Market sentiment has shifted from exuberance to caution, with periodic supply-demand adjustments and fading market mood becoming core drivers of price movements.