Tungsten ore prices remain high

The bargaining center of the tungsten ore market has slightly shifted upwards, and the confirmation of long-term contracts by large enterprises has further reinforced the traders' reluctance to sell. Smelters are currently mainly purchasing on demand and have no intention of actively driving the market higher for the time being. Currently, the bargaining price for 55-60 degree tungsten ore in bulk is 327,000-329,000 yuan/ton, and the circulation scale of low-priced supply in the market is relatively limited, with high-priced supply becoming the mainstream of transactions. 
    【APT market consolidates at a high level】 
    The current APT market is generally experiencing a period of consolidation at high levels. Although the high prices of raw materials continue to provide strong cost support, the downstream's acceptance of high-priced APT is limited, making it difficult for market transactions to increase volume. Both buyers and sellers are caught in a stalemate and are adopting a wait-and-see attitude. Currently, the bulk cargo bargaining price in the APT market remains around 485,000 yuan/ton. 
    【Tungsten powder market maintains stable operation at a high level】 
    Currently, the tungsten powder market continues to operate at a high level, with prices stabilizing and slightly rising, and the tight balance between market supply and demand remains prominent. In the second half of the month, large upstream enterprises have once again increased the prices of long-term contracts, further consolidating the consensus of market price support, providing rigid cost support for tungsten powder and maintaining strong bullish sentiment among participants. Currently, the mainstream bargaining ranges for medium-grained tungsten carbide powder and tungsten powder remain near 735-750 yuan/kg and 765-780 yuan/kg, respectively. The transaction resistance of high-priced resources has eased compared to before, and the overall market situation shows a positive trend of volume and price coordination. 
    【Ferrotungsten market fluctuates at high levels】 
    The current tungsten iron market maintains a trend of high volatility, with intensified bullish and bearish market games. Prices are repeatedly fluctuating within a narrow range. The disagreement between buyers and sellers over prices has further widened. Holding merchants insist on maintaining prices based on cost support, while downstream enterprises still resist high prices. Actual transactions are mainly small orders driven by rigid demand, and overall market activity has slightly decreased compared to last week. 
    【International tungsten market is on an upward trend at a high level】 
    The current international tungsten market is in a phase of trend reinforcement under tight supply and demand balance, with the price driving logic shifting from a single supply constraint to a dual-wheel drive of supply rigidity and demand upgrading. In the short term, against the backdrop of marginal improvement in global liquidity and enhanced expectations of manufacturing recovery, international tungsten prices still have room to rise. However, it is necessary to be vigilant about the potential inhibitory effect of the extended interest rate hike cycle of European and American central banks on end-user demand, as well as the potential market sentiment fluctuations that may be triggered by China's export policy fine-tuning. In the medium and long term, the strategic attributes of global tungsten resources will become more prominent, and resource control capabilities and high-end manufacturing technology will become core barriers determining the competitive landscape of enterprises. The international tungsten market is expected to enter a new development stage characterized by "high prices, high barriers, and high differentiation". 
    "The tungsten scrap market is operating with reduced volume." 
    The current tungsten scrap market is experiencing a contraction trend. Although the upstream tungsten concentrate prices remain high, providing some support to holders, downstream enterprises have seen their purchasing willingness cool down due to weak end-user demand and inventory digestion pressure. The mainstream quotation for scrap rods remains in the range of 440-450 yuan/kg, with both suppliers and demanders maintaining a cautious wait-and-see attitude.