en.Wedoany.com Reported - Recently, Chinese tungsten prices have retreated from their highs, with the price of black tungsten concentrate falling over 16% in just over a month. In late April, companies including a Jiangxi-based tungsten group and Chongyi Zhangyuan Tungsten Co., Ltd. continued to lower their long-term contract offer prices, although the magnitude of the decrease was narrower compared to early April, which has helped market sentiment to stabilize. 
Specifically, Jiangxi Tungsten Group set the guidance price for national standard first-grade black tungsten concentrate at 910,000 yuan per standard ton, a reduction of 46,000 yuan from early April. Zhangyuan Tungsten also adjusted its purchase prices: 55% black tungsten concentrate to 885,000 yuan per standard ton, 55% white tungsten concentrate to 884,000 yuan per standard ton, and APT (Ammonium Paratungstate) to 1.35 million yuan per ton, all lower than the previous round. These adjustments to long-term contract offer prices reflect the trend of tungsten price correction.
Since mid-to-late March, tungsten prices have declined due to profit-taking, downstream wait-and-see sentiment, and adjustments in the broader commodity market. As of April 20th, the average price of black tungsten concentrate was 880,500 yuan per standard ton, a significant drop of 16.18% from the historical high on March 16th. The tungsten price correction primarily stems from a market adjustment following excessive gains in the earlier period.
Looking ahead, as long-term contract prices are finalized, sentiment in the Chinese tungsten market is turning moderate. APT smelter prices remain firm, and industry profits have expanded somewhat. Downstream cemented carbide enterprises maintain a wait-and-see attitude, but with declining industry inventory, pre-Labor Day restocking demand is expected, which may drive a recovery in trading volume. Meanwhile, overseas tungsten supply remains tight, with cemented carbide plants in countries like Japan raising their offer prices, which is favorable for Chinese product exports. In the short term, the tungsten market is expected to gradually stabilize. The future market trend will require attention to the pace of restocking by cemented carbide enterprises.
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