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 Tungsten Express] A historic milestone for the global tungsten industry: The Sangdong Mine in South Korea will hold its completion ceremony on March 17, officially restarting production. As one of the world's most significant tungsten deposits, Sangdong's revival signals the strengthening of critical minerals supply chains and a new chapter in Korea's leadership in advanced industrial materials.

[SMM Tungsten Express] March 13: European tungsten market surged sharply. Latest APT transaction prices reached $3,000/mtu, skyrocketing 36% from yesterday. Driven by this, European carbide blade scrap offers jumped to €130-140/kg, up 29% from yesterday. Market sentiment turned exuberant amid tightening supply conditions.

[SMM Tungsten Express] US Antimony released a resource estimate for its Fostung tungsten project in Ontario. SRK Consulting reported an inferred resource of 14.62 million tonnes grading 0.17% WO₃, containing 53.6 million lbs of tungsten metal, valued at approximately $4.6 billion at current prices. The company plans to fast-track the project as the next North American tungsten producer and has applied for U.S. Defense Production Act funding. Neither the U.S. nor Canada has produced tungsten concentrates since 2016.

[Tungsten Industry Long-Term Contract Information] SMM, March 10: It is reported that a tungsten company in Guangdong released the long-term contract prices for the first half of March. The unit price of black tungsten concentrate with a grade above 55% was 955,000 yuan/standard tonne (65%WO3 basis), up by 225,000 yuan/standard tonne (65%WO3 basis) from the second half of February. The unit price of scheelite concentrate with a grade above 55% was 954,000 yuan/standard tonne (65%WO3 basis), up by 225,000 yuan/standard tonne (65%WO3 basis) from the second half of February. The unit price of ammonium paratungstate was 1,410,000 yuan/mt, up by 340,000 yuan/mt from the second half of February. Note: The above prices all include 13% VAT.

[Tungsten Concentrate Tender Information] According to SMM on March 10: A tungsten mine in Guangdong is expected to hold a tender at 15:00 on the afternoon of March 13 to sell 50 standard tonne (65%WO3 basis) of tungsten concentrate (WO3≥15%).

[Tungsten Industry News Flash] SMM, March 5: Ganzhou Tungsten Association’s forecast tungsten market prices for March 2026: 55% black tungsten ore concentrate at 900,000 yuan/standard tonne (65%WO3 basis), up 230,000 yuan/standard tonne MoM from February; ammonium paratungstate at 1.33 million yuan/mt, up 360,000 yuan/mt MoM; medium-grain tungsten powder at 2,200 yuan/kg, up 570 yuan/kg MoM.

[SMM Tungsten Express] As of March 5, SMM data shows European tungsten scrap drill tips quoted at €95-105/kg, averaging €100/kg, up 8% from February 26; European scrap carbide blades at €97.5/kg. Indian FOB scrap drill tips at $125-140/kg, up $20 from last week; scrap carbide blades FOB at $110-125/kg.

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.