Long positions settled, tungsten ore prices fell, tungsten prices showed a weak adjustment trend

On April 8th, China Tungsten Online released a message. Tungsten prices showed a weak correction trend, mainly influenced by the price reductions in large tungsten companies’ long-term procurement orders, combined with the previous significant price increases that deviated from the intrinsic value range supported by tungsten products’ metal properties. Market profit-taking behaviors were released, and overall bearish sentiment has increased. As a result, tungsten ore prices and tungsten iron prices, which constitute the main part of costs, also experienced slight declines.

However, considering the strategic nature of tungsten resources, and the ongoing digestion of international market inventory and gradually released restocking demand, overseas tungsten product prices generally recorded more noticeable increases than domestic ones. Against this background, the market still maintains some willingness to support prices, and the bottom support for the market remains relatively stable. APT and tungsten powder market sentiment are cautious, with a relatively moderate decline in prices; while cemented carbide companies, due to cost transmission lag, still maintain firm product quotations. Nevertheless, influenced by the overall market weakening atmosphere, trading activity across all segments has generally decreased.

The tungsten scrap market fluctuates narrowly, with recyclers who previously leveraged high positions facing significant psychological pressure and financial risks. The market’s bullish and bearish battles are prominent, and the overall trading atmosphere is cautious, with sentiment easily affected by raw material price fluctuations.

On the macro front, changes in international geopolitical events influence overall metal and financial market sentiment and risk appetite. It is reported that the US, China, and Iran agreed to a two-week ceasefire, with negotiations resuming on the 10th. Following this news, at the time of writing, the highest price of New York gold rose by 3.32%, New York silver rose by 5.94%, and New York crude oil futures fell by as much as 17.47%.

As of the time of writing,

The price of 65% black tungsten concentrate is 945k yuan per standard ton, down 10.0% from the highest point, and up 105.4% compared to the beginning of the year.

The price of 65% white tungsten concentrate is 944k yuan per standard ton, down 10.0% from the highest point, and up 105.7% compared to the beginning of the year.

Ammonium paratungstate (APT) is priced at 1.45 million yuan per ton, down 4.6% from the highest point, and up 116.4% compared to the beginning of the year.

European APT prices are quoted at 2,800-3,190 USD per ton (equivalent to 1.706-945k yuan per ton), up 225.5% from the beginning of the year.

Tungsten powder prices are 2,340 yuan per kilogram, down 2.5% from the highest point, and up 116.7% compared to the beginning of the year.

Tungsten carbide powder prices are 2,280 yuan per kilogram, down 2.6% from the highest point, and up 119.2% compared to the beginning of the year.

Cobalt powder prices are 580 yuan per kilogram, up 11.5% from the beginning of the year.

70% tungsten iron prices are 1.35 million yuan per ton, down 4.9% from the highest point, and up 107.7% compared to the beginning of the year.

European tungsten iron prices are quoted at 310-330 USD per kilogram of tungsten (equivalent to 1.494-944k yuan per ton), up 132.7% from the beginning of the year.

Waste tungsten rod prices are 1,030 yuan per kilogram, down 24.8% from the highest point, and up 71.7% compared to the beginning of the year.

Waste tungsten drill bit prices are 1,000 yuan per kilogram, down 27.0% from the highest point, and up 72.4% compared to the beginning of the year.