The tungsten industry is experiencing a paradox. On one hand, prices have reached record levels: 65% black tungsten concentrate hit 171,000 yuan/ton, 65% white tungsten concentrate reached 170,000 yuan/ton, ammonium paratungstate (APT) surpassed 250,000 yuan/ton, and tungsten powder climbed to 366 yuan/kg. On the other hand, market transactions are extremely inactive, with almost no deals in the high-price range and only sporadic small, essential orders.
There's a serious disconnect between upstream and downstream sectors. Upstream mining companies are benefiting from resource scarcity, while midstream and downstream enterprises are caught between high costs and weak demand. A few tech - leading companies are seeking growth in emerging fields like photovoltaic wire, semiconductors, and high - end manufacturing. However, due to upstream price - hiking and midstream/downstream cost - and -demand pressures, the market deadlock isn't expected to break soon.
Industry insiders note that in the current complex global political and economic landscape, tungsten's critical strategic value is increasingly recognized. This underpins the high prices. But for the industry to operate healthily, the price mechanism and supply - demand must rebalance. Only through innovation and value enhancement can the "price without demand" dilemma be resolved.