On April 28, 2025, in the tungsten market on Monday, the upward trend of tungsten prices continued. The sentiment of pushing up prices at the raw material end continued to be released, and the prices of downstream tungsten products rose passively. However, the feedback from the overall demand side was relatively weak. There were both sentiments of exploring higher prices and fearing high prices in the tungsten market, and the overall trading rhythm was slow. Coupled with the complexity of the macro environment, most participants adopted a cautious attitude.
The price of 65% black tungsten concentrate stood at the level of 150,000 yuan per standard ton. Affected by the reduction in production, the shrinking of mining quotas, and the tightening of environmental protection supervision on the supply side, market resources were in short supply, and goods holders generally were reluctant to sell. Due to the fear of high prices on the demand side, the purchasing enthusiasm was limited. The overall trading was mainly for rigid demand replenishment. The trading of high-priced resources was weak, and the market showed the characteristic of "having a price but no market".
The price of ammonium paratungstate (APT) broke through the threshold of 220,000 yuan per ton due to cost factors. Constrained by weak demand, smelting enterprises generally reported the pressure of price inversion, and the overall trading enthusiasm in the market was insufficient, with few scattered orders.
The price of tungsten powder was quoted at 328 yuan per kilogram, and the price of tungsten carbide powder was quoted at 323 yuan per kilogram. The cost of raw materials and high-end demand formed price support, but trade frictions and weak traditional demand led to a stalemate in market trading. The supply and demand sides in the market continued to be in a state of tug-of-war.
The price of 70 tungsten iron remained stable at around 223,000 yuan per ton. The supply side had limited resources, and the demand side was mainly characterized by a cautious atmosphere. Recently, the cost side supported a relatively firm market, and actual trading was carried out according to rigid demand.
The price of scrap tungsten remained stable. Due to the game between supply and demand and external uncertainties, there was a certain fermentation of risk aversion sentiment in the market. Merchants maintained the strategy of following the market, and the trading sentiment was cautious. The recent trading focus was relatively stable.