Tungsten prices surge, overturning traditional logic; APT breaks 1.1 million new high

On February 25, according to the latest news from China Tungsten Online, over the past year, the high volatility and rapid pace of tungsten prices have fundamentally disrupted traditional market trading logic and business rhythms. They have even profoundly changed people’s concepts of the spot market and stock trading psychology. A notable feature of the current tungsten market is the significant compression of trading cycles, with order fulfillment and execution often needing to be completed within the same day or even shorter timeframes. Time zone differences have become a source of uncertainty or even obstacles for some trades. Common business practices such as inquiry, hesitation, and delayed decision-making often lead to immediate increases in procurement costs and high uncertainty amid the market’s sharp fluctuations. This change demands that trading needs be genuine, urgent, and immediate. Overall, the tungsten market sentiment is cautious, with trading activity showing clear prudence at high price levels. Actual transaction volumes are mainly concentrated among a few customers with urgent needs and strong cash flow, while small and medium traders and hesitant buyers tend to be more cautious about high prices.

As of the time of publication:

• 65% black tungsten concentrate is priced at 735,000 RMB per metric ton, up 59.8% from the beginning of the year.
• 65% white tungsten concentrate is priced at 734,000 RMB per metric ton, up 59.9% from the beginning of the year.
• Ammonium paratungstate (APT) is priced at 1.10 million RMB per ton, up 64.2% from the beginning of the year.
• European APT prices are quoted at 1650-1900 USD per ton of WO3 (equivalent to 1.007-1.16 million RMB per ton), up 92.9% from the beginning of the year.
• Tungsten powder is priced at 1,800 RMB per kilogram, up 66.7% from the beginning of the year.
• Tungsten carbide powder is priced at 1,750 RMB per kilogram, up 68.3% from the beginning of the year.
• Cobalt powder is priced at 580 RMB per kilogram, up 11.5% from the beginning of the year.
• 70% tungsten alloy (tungsten heavy alloy) is priced at 1.03 million RMB per ton, up 58.5% from the beginning of the year.
• European tungsten alloy prices are quoted at 200-210 USD per kilogram of tungsten (equivalent to 966,000-1,014,000 RMB per ton), up 49.1% from the beginning of the year.
• Scrap tungsten rods are priced at 920 RMB per kilogram, up 53.3% from the beginning of the year.
• Scrap tungsten drill bits are priced at 900 RMB per kilogram, up 55.2% from the beginning of the year.