This week, tungsten prices have continued to decline. The price increase of tungsten raw materials since mid-April has been almost fully reversed. Market consumption sentiment remains hard to improve, and the market is still in a bottoming-out phase, waiting for fundamental signals to change.
- **65% Black Tungsten Concentrate**: Prices are holding around 131,000 RMB/ton, down 16.6% from the historical high, with a 6.5% increase remaining for the year. Market activity is gradually converging, with limited proactive purchases from downstream users. Transactions are cautious as the market awaits long-term contract prices from two major tungsten companies in Jiangxi.
- **Ammonium Paratungstate (APT)**: Prices have fallen to around 196,000 RMB/ton, with a decline of 15.9% in this round, leaving a 7.7% increase for the year. Refineries are under significant operational pressure, and the stalemate in the industrial chain is becoming more apparent, with few bulk orders observed.
- **Tungsten Powder**: Prices are holding around 305,000 RMB/ton, having decreased by 12.1%, with an 11.7% increase remaining for the year. **Tungsten Carbide Powder**: Prices are holding around 300,000 RMB/ton, with a decline of 11.8% and an 11.9% increase remaining for the year. The consumption market atmosphere is poor, buyers still have intentions to test lower prices, while cost support has not stabilized, leading to overall demand-based transactions and market pressure.
- **70% Ferrotungsten**: Prices are consolidating around 207,000 RMB/ton, with a 10.8% decline, but still a 17.6% increase for the year. Recently, the end-user consumption enthusiasm has been limited, and with the continued relaxation of tungsten raw material prices, the ferrotungsten market atmosphere is also lukewarm.