Tungsten Spot Market Was Active Today, with Prices Rising Across the Industry Chain

[Tungsten News Flash] SMM June 3: The tungsten spot market saw active inquiries today. Downstream participants were bullish and entered the market actively, with prices across the industry chain rising across the board. Upstream raw material suppliers had a strong hold-back-from-selling mentality, and suppliers' offers remained firm. Wolframite concentrates spot order transaction prices mainly exhibited wild swings. Today, SMM 65% wolframite concentrates closed at 450,500 yuan/standard tonne (65%WO3 basis), up 10,000 yuan/mt from the previous day. Some spot order quotes approached 500,000 yuan/standard tonne (65%WO3 basis). Attention going forward will be on the pace of mine shipments.

Today, the APT market mainly saw steady increases. The industry engaged in concentrated procurement, and the market transaction center shifted upward. Mainstream transactions were concentrated around 720,000 yuan/mt, with some spot orders already exceeding 750,000 yuan/mt. Smelter offers remained firm. Today, SMM APT price closed at 725,000 yuan/mt, up 20,000 yuan/mt from the previous day, with a cumulative increase of 80,000 yuan/mt recently.