SMM March 14 News:
This week, tungsten prices continued their downward trend, with limited spot order transactions and a strong wait-and-see sentiment in the market.
During the week: the negotiated price of 55% black tungsten concentrate decreased from 138,000 yuan/standard mt to 137,500 yuan/standard mt; the negotiated price of APT fell from 207,700 yuan/mt to 207,000 yuan/mt; and the negotiated price of tungsten powder dropped from 313 yuan/kg to 312 yuan/kg.
Currently, mineral resources remain limited, and supply-side resources were further constrained during the Two Sessions. However, the slight reduction in raw material quotations by major tungsten enterprises has somewhat impacted traders' confidence. Meanwhile, downstream demand remains sluggish, with end-use demand performing poorly. Most buyers are currently purchasing as needed, resulting in a weak market trading atmosphere. The tungsten market is still in a state of supply-demand imbalance, coupled with the prevalent price suppression sentiment among buyers, leading to overall weak transaction performance and insufficient market vitality. It is expected that the tungsten market will continue to maintain a weak and stable trend in the short term, with limited price fluctuation space.
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