[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 Express] As of March 19, SMM data shows APT CIF Rotterdam port at $2,400-2,900/mtu, averaging $2,650/mtu, up $450 from March 12. Ferro-tungsten Rotterdam warehouse at $310-320/kg W, averaging $315/kg W, up $20 from March 12. Overseas transactions remained scarce this week as the tug-of-war between supply and demand continues.

[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.

SMM, February 27: After the Chinese New Year, the tungsten market got off to a good start, re-entering an accelerated uptrend and repeatedly hitting new highs.

During the Chinese New Year holiday, overseas tungsten prices surged past China. By Feb 20, Rotterdam APT averaged $1,800/mtu, up 13.56% WoW, while European scrap drill bits jumped 12.5% to €90/kg. Indian scrap followed, with alloy blade FOB hitting $110-115/kg. Post-holiday, domestic APT opened at ¥1.05 million/mt, with a major producer hiking long-term prices by ¥100,000/mt. Global supply tightness continues to drive synchronized upside across markets.

SMM News, February 24: China's tungsten market extended gains on the first day post-holiday. APT spot prices concentrated around 1.05 million yuan/t, up 25,000 yuan/t from pre-holiday levels, accumulating a 380,000 yuan/t increase year-to-date. Spot supply remained tight with firm offers. Concentrate production stayed low; 65% black tungsten concentrate closed at 701,500 yuan/t, up 5,000 yuan/t from pre-holiday, accumulating a 248,000 yuan/t increase year-to-date, with some spot transactions near 705,000 yuan/t.

[SMM Tungsten Express] As of Feb 19, European tungsten prices continued their upward trend. APT CIF Rotterdam port is quoted at $1,750-1,850/mtu, averaging $1,800/mtu, up 13.6% WoW. Ferrotungsten Rotterdam warehouse is quoted at $195-205/kg W, averaging $200/kg W, up 1.5% WoW.

Tungsten prices kept rising through the Chinese New Year. Europe saw higher quotes but few spot deals, with APT at $1,650+/mtu and ferro-tungsten hitting $205/kg. India’s scrap market stayed strong, with drill bits at $110/kg. In China, tight supply pushed APT long-term prices up by ¥200,000 to ¥1 million/t. Shortages persist, pointing to more post-holiday gains.