Supply-side contraction overlaid with declining physical inventory circulation, tungsten prices enter "jump surge mode"

Since the beginning of this year, black tungsten concentrate (grade ≥65%) has increased by 51%. Many industry insiders say that under the circumstances of shrinking mineral supply and downstream restocking, combined with recent strict crackdowns on illegal mining in main production areas leading to a decrease in spot circulation, tungsten prices have entered a “jumping surge” mode. Behind the rapid rise in tungsten prices, the spot market has already shown signs of a trust crisis due to contract defaults. Some downstream companies are unable to bear the sudden price increase, facing a temporary dilemma of “no rice to cook.” (Cailian Press)