[SMM Tungsten Daily Review: Slight Price Collapse in the Scrap Tungsten Market, Ore and Upstream Smelting Products Consolidated Sideways] SMM News, March 23 In the short term, prices across the tungsten industry chain still showed divergence between primary and recycled materials. China was currently in a transition period marked by tightening supply on the raw ore side and a rising utilization rate of recycled materials. Smelters still needed some time to adjust their restocking practices and complete the adaptation and transition from a long-term contract pricing model led by the ore side to a scrap tungsten market procurement model featuring higher-frequency transactions and greater sensitivity to sentiment.

[SMM Tungsten Daily Review: Strong Wait-and-See Sentiment as the Tungsten Market Awaited Stabilization in Transactions] SMM News, March 18 Tungsten market prices were largely stable today, with only minor fluctuations, and the market showed strong wait-and-see sentiment. Trading volume in segments such as tungsten ore and APT was sparse, with transaction prices mostly hovering around the quoted price range. Transactions for downstream products such as powder were also limited, and transaction prices showed a slight downward trend.

As of March 16, tungsten prices in China saw a slight correction, with APT quoted at 1.505 million yuan/mt. The market's fear of high prices was released, entering a phase of rational wait-and-see. Outside China, supply remained persistently tight, with the average APT Rotterdam price at $2,200/mtu, while weekly gains in tungsten scrap prices in India and Europe exceeded 25%.

SMM March 13: This week, China’s domestic tungsten market exhibited high-level oscillations with intensified supply-demand competition. Multiple mines put products up for auction during the week, but transactions were bleak.As of March 13, tungsten prices remained largely stable, yet market sentiment became extremely divided.

The long-term contract prices of Chongyi Zhangyuan Tungsten Co., Ltd. for the second half of January are as follows: (The above prices include 13% VAT) 1. 55% Black Tungsten Concentrate: 143,000 yuan/mt (standard); 2. 55% White Tungsten Concentrate: 142,000 yuan/mt (standard); 3. Ammonium Paratungstate (National Standard Grade 0): 212,500 yuan/mt.

According to a news release from Chongyi Zhangyuan Tungsten Co., Ltd. on May 7, the company's long-term contract offers for the first half of May are as follows: 1. 55% wolframite concentrate: 151,000 yuan/metric tonne, up 6,500 yuan/metric tonne from the previous offer; 2. 55% scheelite concentrate: 150,000 yuan/metric tonne, up 6,500 yuan/metric tonne from the previous offer; 3. ammonium paratungstate (APT, zero-grade national standard): 223,500 yuan/mt, up 9,500 yuan/mt from the previous offer.

The long-term contract purchase prices offered by Chongyi Zhangyuan Tungsten Co., Ltd. in the first half of this month were as follows: 1. 55% black tungsten concentrate: 143,000 yuan/mtu; 2. 55% white tungsten concentrate: 142,000 yuan/mtu; 3. Ammonium paratungstate (National Standard Grade 0): 212,500 yuan/mt. All the above prices include 13% VAT.

The long-term contract prices of Chongyi Zhangyuan Tungsten Co., Ltd. for the first half of March are as follows (all prices include 13% VAT): 1. 55% Black Tungsten Concentrate: 139,000 yuan/mtu 2. 55% White Tungsten Concentrate: 138,000 yuan/mtu 3. Ammonium Paratungstate (National Standard Grade Zero): 209,000 yuan/mt

The long-term contract prices quoted by Chongyi Zhangyuan Tungsten Co., Ltd. for the first half of March are as follows: (The above prices include 13% VAT) 1. 55% Black Tungsten Concentrate: 139,000 yuan/mtu; 2. 55% White Tungsten Concentrate: 138,000 yuan/mtu; 3. Ammonium Paratungstate (National Standard Grade Zero): 209,000 yuan/mt.

The long-term contract prices quoted by Chongyi Zhangyuan Tungsten Co., Ltd. for the first half of February are as follows: (The above prices include 13% VAT) 1. 55% Black Tungsten Concentrate: 143,000 yuan/mtu; 2. 55% White Tungsten Concentrate: 142,000 yuan/mtu; 3. Ammonium Paratungstate (National Standard Zero Grade): 212,500 yuan/mt.