Tungsten prices weakened, primarily due to price reductions in long-term contracts from major tungsten producers. This, coupled with previous price increases significantly deviating from the value range supported by the inherent metallic properties of tungsten products, led to profit-taking and a rise in overall bearish sentiment. Consequently, tungsten ore and ferrotungsten prices also weakened.
However, considering the strategic importance of tungsten resources, the market still maintains some willingness to support prices. Furthermore, the continued depletion of historical inventories and gradual release of restocking demand in the international market resulted in overseas tungsten prices recording a more significant increase than domestic prices, which also impacted the domestic market. The APT and tungsten powder markets were cautious, with prices declining at a relatively moderate pace. Meanwhile, cemented carbide producers maintained firm prices due to a lag in cost transmission. However, the overall weakening market atmosphere led to a general decrease in trading activity across all segments.
The tungsten scrap market fluctuated narrowly. Recyclers who leveraged heavily at higher prices earlier are facing significant psychological pressure and financial risk. The overall trading atmosphere was cautious, and sentiment was easily influenced by fluctuations in raw material prices.
On the macro front, changes in international geopolitical events have impacted overall sentiment and risk appetite in the metals and financial markets. It is reported that the US, Israel, and Iran have agreed to a two-week ceasefire and will resume negotiations on the 10th. Affected by this news, as of press time, New York gold rose by a maximum of 3.32%, New York silver rose by a maximum of 5.94%, and New York crude oil futures prices fell by a maximum of 17.47%.
As of press time,
65% wolframite concentrate is priced at RMB 945,000/ton, down 10.0% from its peak, but up 105.4% since the beginning of the year.
65% scheelite concentrate is priced at RMB 944,000/ton, down 10.0% from its peak, but up 105.7% since the beginning of the year.
Ammonium paratungstate (APT) is priced at RMB 1,450,000/ton, down 4.6% from its peak, but up 116.4% since the beginning of the year.
European APT is priced at USD 2800-3190/mtu (equivalent to RMB 1.706-1.943 million/ton), up 225.5% from the beginning of the year.
Tungsten powder is priced at RMB 2340/kg, down 2.5% from its peak, but up 116.7% from the beginning of the year.
Tungsten carbide powder is priced at RMB 2280/kg, down 2.6% from its peak, but up 119.2% from the beginning of the year.
Cobalt powder is priced at RMB 580/kg, up 11.5% from the beginning of the year.
70% ferrotungsten is priced at RMB 1,350,000/ton, down 4.9% from its peak, but up 107.7% from the beginning of the year.
European ferrotungsten is priced at USD 310-330/kg W (equivalent to RMB 1.494-1.59 million/ton), up 132.7% from the beginning of the year.
Scrap tungsten rods are priced at RMB 1030/kg, down 24.8% from its peak, but up 71.7% from the beginning of the year.
Scrap tungsten drill bits are priced at RMB 1000/kg, down 27.0% from its peak, but up 72.4% from the beginning of the year.
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