Tungsten prices surge strongly, breaking traditional trading rhythms; APT prices hit a new high for the year, drawing attention

Recently, the tungsten market has shown unprecedented activity, with prices continuously rising and trading accelerating significantly, completely breaking traditional market operation logic. Industry monitoring data shows that prices of various tungsten products have increased sharply compared to the beginning of the year, with ammonium paratungstate (APT) prices in Europe rising the most, up 92.9%, currently quoted between $1650-1900 per ton, approximately 1.007-1.16 million RMB per ton.

In the domestic market, 65% black tungsten concentrate prices have risen to 735,000 RMB per standard ton, up 59.8% from the beginning of the year; white tungsten concentrate prices follow closely, at 734,000 RMB per standard ton, with a 59.9% increase. Domestic ammonium paratungstate prices are at 1.10 million RMB per ton, up 64.2% from the start of the year. Downstream product prices are also climbing, with tungsten powder at 1,800 RMB per kilogram, up 66.7%; tungsten carbide powder at 1,750 RMB per kilogram, up 68.3%; and 70 tungsten iron at 1.03 million RMB per ton, up 58.5%.

This price surge is profoundly changing market trading patterns. Currently, tungsten market trading cycles are extremely compressed, with order agreements and executions often completed within the same day or even shorter periods. Time zone differences are beginning to have a tangible impact on some cross-border transactions. Traditional inquiry and hesitation behaviors, along with delayed decision-making, tend to cause immediate increases in procurement costs and significantly raise trading risks amid volatile prices. Market participants generally believe that only buyers with genuine demand, strong financial capacity, and quick decision-making can adapt to the current pace.

Against the backdrop of sustained high prices, market sentiment has become noticeably cautious. Actual transactions mainly occur among a few rigid-demand clients and cash-rich traders, while small and medium traders and hesitant buyers generally exhibit strong reluctance to buy at high prices. This cautious atmosphere further intensifies supply and demand conflicts, driving prices into a self-reinforcing upward cycle.

Prices of other related products are also rising significantly. Cobalt powder is at 580 RMB per kilogram, up 11.5%; European tungsten iron prices are at $200-210 per kilogram of tungsten, equivalent to 966,000-1,014,000 RMB per ton, up 49.1%; in the scrap tungsten sector, scrap tungsten rods are priced at 920 RMB per kilogram, up 53.3%; scrap tungsten drill bits at 900 RMB per kilogram, up 55.2%. The entire tungsten industry chain’s pricing system is undergoing restructuring, and market participants are closely monitoring how price fluctuations will continue to impact production and operations.