Tungsten ore prices break through the 200,000 integer mark.

Zhongtung Online released the tungsten market trends on August 13, 2025. The tungsten market remains high, with the prices of major tungsten products increasing by 40% within the year. The price per ton of tungsten ore has entered the "2-digit" era, with APT reaching over 290,000 yuan per ton, and tungsten powder prices reaching 440,000 yuan per ton. The price of 65% black tungsten concentrate is reported at 200,000 yuan per metric ton, an increase of 39.9% since the beginning of the year. The price of ammonium paratungstate is reported at 293,000 yuan per ton, increasing by 38.9% since the beginning of the year. The significant increase in tungsten prices this year is mainly driven by market supply and sentiment. Factors such as the downward adjustment of tungsten mining quotas, stricter environmental production constraints, implementation of large infrastructure projects, the escalating strategic resource attributes, advocating against "inward competition", external capital boosting, and the resonance of international tungsten price increases have strengthened market supply and demand expectations and speculative trading. However, the rapid price increase in the short term lacks solid demand support and faces speculative pullback risks. Specific challenges include weak downstream consumption, slow digestion of high inventories, speculative capital exiting for profits, gradual increase in overseas production capacity, drag from the international economic downturn, and disruption from geopolitical conflicts. If these risks continue to accumulate and ferment, it may lead to a significant price correction and impact the industry.