Latest Update in the SMM Tungsten Market

[SMM Tungsten Daily Review: Tungsten Concentrate Supply Increase Challenging, Tungsten Market Consolidates at High Levels Supported by Cost Side in Short Term] This week, the tungsten market maintained a high-level consolidation. The circulation of tungsten concentrate in the market was tight. Major mines in Jiangxi Province mostly shipped under long-term contracts. Mines in southern and south-west China experienced a seasonal decline in mining activities due to weather impacts, and suppliers offered firm quotes. Ammonium paratungstate (APT) enterprises negotiated prices on a case-by-case basis, with spot orders being scarce and market volume significantly reduced. During the week, major domestic tungsten enterprises successively released long-term contract information, showing a significant increase in long-term contract prices compared to July, boosting market confidence. Downstream cemented carbide enterprises followed the price increase passively, but the increase was limited.

In July, the global tungsten market saw another rally, with domestic and international tungsten prices hitting new highs. Among them, tungsten concentrate prices rose by 11.2% in July, ammonium paratungstate (APT) by 13.7%, tungsten carbide powder by 13.3%, tungsten powder by 13.8%, and ferrotungsten by 13.6%. In Europe, sodium paratungstate closed at $460-490 per ton-unit at the end of July, up 2.7% month-on-month. European ferrotungsten closed at $55-59.6 per kilogram of tungsten at the end of July, a 10.7% increase from the start of the month.

Nickel Ore Prices Fluctuates This Week, No Market for NPI?

[SMM Molybdenum Daily Review: Impact of Joint Statement by Steel Enterprises, Wait-and-See Sentiment Strong in Molybdenum Market with Sluggish Transactions] SMM News on July 31: The molybdenum market remained in a stalemate today. On July 29, three domestic steel enterprises jointly issued a statement to suspend the procurement of ferromolybdenum. The market was filled with a strong wait-and-see sentiment, and the bidding process for steel enterprises was fierce. Ferromolybdenum suppliers maintained a cautious mindset and were eager to sell. Demand for molybdenum chemicals and other sectors was sluggish, and prices remained stable compared to the previous trading day, with attention focused on the auction results of Yunnan molybdenum mines tomorrow.

Nickel Ore Prices Slightly Decline, Time for Turning Point of NPI?

Huge Amount of RKAB Quota Might Increase the Supply? Nickel Ore Prices Likely to Fall. Profit Margins of Smelters Remain Negative

[SMM Molybdenum Daily Review: Downstream Demand Yet to Be Released, Molybdenum Market Fluctuates Rangebound] SMM reported on July 17: Today, the molybdenum market operated under overall pressure. The bidding selling price of molybdenum concentrate from a certain mine in Henan was announced yesterday, and the transaction price did not show significant volatility for the time being. The overall price of downstream ferromolybdenum steel tenders fluctuated rangebound within the range of 253,000-254,000 yuan/mt, while the ammonium molybdate and other molybdenum chemical sectors lacked demand support, with prices showing a slight decline.

[SMM Tungsten Daily Review: Tungsten Concentrate Prices Maintain Uptrend, Downstream Tungsten Products Follow Suit] On July 17, the tungsten market mainly held up well. The supply of ore in the market was relatively tight, and suppliers were bullish, holding onto their stocks and reluctant to sell. The center of spot order transactions continued to rise. Downstream ammonium paratungstate producers faced significant cost pressure and were unwilling to sell at low prices, with quotes mainly following the uptrend. Overall market transactions were average.

[SMM Tungsten Daily Review: Tungsten Market Holds Up Well, Ammonium Paratungstate Price Rises Rapidly to 260,000 yuan/mt] On July 16, the tungsten market maintained a strong upward trend. The supply of ore in the market was relatively tight, and suppliers held onto their stocks in anticipation of a price increase, leading to a continued rise in the center of spot order transactions. Downstream ammonium paratungstate producers faced significant cost pressure and were reluctant to sell at low prices, so they mainly followed the price increase in their quotations. Overall market transactions were moderate.