Latest Update in the SMM Tungsten Market

[SMM Tungsten Daily Review: Tungsten Market Remains Largely Stable at Mine End, Cost-Driven Price Increase in Downstream Ferrotungsten] Today, the tungsten market was largely stable. Tungsten concentrate enterprises mostly made shipments under long-term contracts. Traders released part of their inventory. Inventory levels at the downstream mine end remained low, but fear of high prices persisted, with restocking mainly driven by immediate needs. With an increase in steel procurement volumes and cost-driven factors, the price of ferrotungsten experienced a cost-driven increase.

[SMM Molybdenum Daily Review: Mixed Sentiments in Molybdenum Market, Downstream Product Companies Increase Prices] SMM News on June 13: Today, the molybdenum market saw a tug-of-war between bullish and bearish sentiments. Prices quoted by ore suppliers remained stable for the most part, with the market primarily driven by just-in-time purchases. Ferromolybdenum transactions experienced a slight decline. As of today, SMM 45% molybdenum concentrate closed at 3,830-3,860 yuan/mtu, unchanged from the previous trading day. Some traders cashed in at higher prices, slightly improving the circulation of spot orders in the market.

[SMM Analysis: High Costs Drive Price Hikes in Downstream Enterprises Such as Molybdenum Wire Manufacturers] According to SMM, due to the high and stable prices of raw materials such as molybdenum concentrate and upstream ammonium molybdate, downstream processing enterprises of molybdenum products in Sichuan, Shandong, Jiangsu, and Jilin have adjusted the selling prices of products such as molybdenum wire. The price increase for wire-cut molybdenum wire ranges from 80 to 100 yuan per 10,000 meters. Today, SMM's wire-cut molybdenum wire closed at 2,200-2,400 yuan per 10,000 meters, representing an increase of approximately 7% compared to the beginning of the year.

[SMM Tungsten Daily Review: Favourable Macro Front and Fundamentals Support Maintain Short-Term Tungsten Market Holding Up Well] Today, the tungsten market is mainly characterized by a sideways trend at highs. The Sino-US consultation meeting is expected to ease the trade war, and the market's outlook for tungsten demand is improving. On the ore side: Today, the price of tungsten concentrate ore fluctuates at highs. The supply of ore has loosened somewhat, and market liquidity has improved. However, the mainstream transaction prices in the market remain high. Downstream inventory levels are low, and the willingness to restock has strengthened somewhat. However, due to the high prices, restocking is mainly driven by immediate needs. As of June 12, SMM black tungsten concentrate (65%) closed at 173,000-174,000 yuan/metric tonne, unchanged from the previous trading day.

[SMM Molybdenum Daily Review: Molybdenum Concentrate Prices Consolidate at High Levels, Trading Sentiment Turns Cautious] SMM News on June 11: Today, the molybdenum market was dominated by consolidation. Downstream demand from sectors such as molybdenum chemicals remained weak. Additionally, molybdenum concentrate suppliers concentrated on selling their inventory, leading to a shift in market sentiment, with some market participants turning bearish on the outlook. Today, the price of 45%-50% molybdenum concentrate was 3,830-3,860 yuan/mtu, unchanged from the previous trading day. Molybdenum iron prices closed at 245,000-250,000 yuan/mt, unchanged from the previous trading day.

[SMM Tungsten Daily Review: Major Manufacturers Follow Suit in Raising Procurement Prices, Tungsten Market Consolidates at High Levels] On June 10, the tungsten market maintained a generally strong performance today, with ore supply remaining relatively tight and market quotations remaining firm. A major enterprise in Guangdong announced today the procurement prices of raw materials for the first half of June, with both tungsten concentrate and ammonium paratungstate procurement prices rising in line with the market.

[SMM Molybdenum Daily Review: Molybdenum Concentrate Prices Fluctuate at Highs amid High Temperatures, with Molybdenum Iron Prices Rising in Recent Steel Tenders] SMM June 10 Report: Today, the molybdenum market mainly fluctuated at highs. Costs at the mining end remained at highs, while enterprises in the downstream molybdenum iron and molybdenum chemical industries faced poor profitability, with prices mainly following the upward trend of the upstream. Today, the price of 45%-50% molybdenum concentrate was 3,830-3,860 yuan/mtu, unchanged from the previous trading day. Molybdenum iron prices closed at 245,000-250,000 yuan/mt, unchanged from the previous trading day.

Entering June, the market trend of molybdenum remains highly noticeable. At the beginning of the month, bidding prices of mainstream mines were successively finalized, with ore prices still maintaining a high upward trend. On June 4th, a mine in Jiangxi tendered and sold molybdenum concentrate with a grade of 45%-50%, with a transaction price of 3,865 yuan/ton-degree. Additionally, on June 6th, a mine in Henan sold molybdenum concentrate with a grade of 50% and above offline, with a transaction price of 3,870 yuan/ton-degree. What about the future market?

[SMM Analysis: Molybdenum Ore Bidding Prices Rise Again, Molybdenum Market to Fluctuate at Highs in Short Term] As June began, the molybdenum market continued to attract significant attention. Early in the month, the bidding prices of mainstream mines were successively finalized, with ore prices maintaining an upward trend at highs. On June 4, a mine in Jiangxi tendered the sale of molybdenum concentrate with a grade of 45%-50%, achieving a transaction price of 3,865 yuan/mtu. Additionally, on June 6, a mine in Henan conducted an offline sale of molybdenum concentrate with a grade of 50% and above, achieving a transaction price of 3,870 yuan/mtu. What lies ahead for the market?

[SMM Tungsten Daily Review: Tungsten Market Fluctuates at Highs, APT and Tungsten Powder Products Rise Again] On June 5, the overall performance of the tungsten market was sluggish. Upstream ore suppliers awaited guidance on long-term contract prices from mines, resulting in fewer transactions in the market. Downstream ferrotungsten and tungsten powder prices rose again.