According to data from China Tungsten Online, on March 2nd, prices for major tungsten products, including tungsten concentrate, ammonium paratungstate, and tungsten powder, all increased across the board. Among them, upstream black tungsten concentrate and white tungsten concentrate saw a single-day increase of 30,000 yuan/standard ton, with the latest price reaching 830,000 yuan/standard ton.
"Limited operating rates at mining companies have exacerbated the tight supply-side constraints, while the spillover of geopolitical risks and the revaluation of strategic metals are dominating current pricing sentiment," China Tungsten Online noted.
Prior to this, the prices of these major tungsten products had already increased by 70% to 80% this year, significantly impacting the industry and capital markets. For example, Zhangyuan Tungsten Industry, located in southern Jiangxi, recently announced price adjustments for its welding inserts and cemented carbide products due to increased costs caused by rising tungsten raw material prices.
