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Tungsten market is not good, the transaction continues to be light
Last week (December 9th–13th), the domestic tungsten market continued to show weak performance, with prices steadily declining across the board. Terminal demand remained sluggish, and trading activity was light, reflecting a lack of confidence among market participants.
In terms of tungsten concentrate, the mainstream price for 65% black tungsten concentrate was around 125,000 yuan per ton, while actual transactions occurred at 12–12.5 million yuan per ton, a decrease of 0.5 million yuan from the previous weekend. The 55% black tungsten concentrate saw a similar trend, with a market price of 118,000 yuan per ton and transaction prices ranging between 11.3–11.6 million yuan per ton, down 0.3 million yuan from the prior period.
The overall market remained under pressure, with fewer inquiries, lower quotations, and slow transaction volumes. No major positive news emerged, and large companies showed no signs of buying. State-owned mines have started to cut production and set minimum pricing levels, while middlemen are hesitant to hold inventory due to tight liquidity.
Regarding APT (ammonium paratungstate), the mainstream price in the market was approximately 180,000 yuan per ton, with actual transactions taking place at 17.9–18.1 million yuan per ton, a drop of 0.2 million yuan from last week. The slowdown in downstream cemented carbide demand, coupled with tight capital conditions, has led to a significant decline in both smelting and trading activities compared to the same period last year.
In the powder segment, the price of medium-particle tungsten carbide powder remained stable at around 285 yuan per kg, with actual transactions ranging between 280–284 yuan per kg. For medium-grain tungsten powder, the mainstream price was 286 yuan per kg, but transaction prices fell slightly to 282–286 yuan per kg, down by 2 yuan per kg from the previous week.
Overall, demand for tungsten materials has dropped significantly this year, and orders for cemented carbides have also declined sharply. With the end-of-year funding crunch continuing to affect the market, the foreign tungsten market remains weak. Market participants remain cautious, and a slight further decline is expected in the coming week.