Tungsten Prices Stable in Europe, Scrap Prices Drop in India Amid Weak Demand

[Tungsten Express] SMM, June 11: The tungsten raw material prices remained sideways today, with divergence appearing across various segments of the industry chain. Spot supply of upstream tungsten concentrates was tight, as suppliers held firm on quotations with strong reluctance to sell, while downstream procurement pace slowed, leading to a significant contraction in mainstream transactions at the mine end and for APT. Tungsten powder enterprises had limited support from orders on hand and were extremely cautious in restocking, mostly producing based on sales. Amid the tug-of-war between longs and shorts across the entire industry chain, the market stagnated. Yesterday, a leading tungsten enterprise in Guangdong locked in the long-term contract price for APT at 780,000 yuan/mt, effectively stabilizing industry expectations. Currently, the trading center of the APT spot market is fluctuating around 800,000 yuan/mt, with some inventory still needing to be cleared. Short-term prices are expected to move sideways.

[Molybdenum Express] SMM, June 10: A steel mill in Liaoning set its ferromolybdenum tender price at 310,700 yuan/mt on June 10, by acceptance.

[Tungsten Flash] SMM, June 10: A tungsten enterprise in Guangdong released the first-half June long-term contract prices. The prices for 55% wolframite concentrates and 55% scheelite concentrates were set at 518,000 yuan per standard tonne (65% WO3 basis) and 517,000 yuan per standard tonne, respectively. The long-term contract ore prices were raised by 108,000 yuan per standard tonne compared with the second-half May levels. The long-term contract APT price was set at 780,000 yuan per mt, an increase of 120,000 yuan per mt from the second-half May level (all prices above include 13% VAT).