Following the previous round of tungsten price declines, tungsten powder has embarked on a fresh upward price rally, with prices of most tungsten-related products climbing steadily across the whole industrial chain. Tungsten prices continued their upward trend, primarily driven by suppliers' reluctance to sell at low prices, while demand saw moderate restocking, leading to an overall improvement in market activity. However, industry insiders generally remain cautious about the sustainability of this upward trend, as major application industries are highly sensitive to raw material costs. Confidence among buyers and sellers has diverged, and the market continues to exhibit a supply-demand game.

The tungsten concentrate market showed a clear intention to hold back sales and maintain prices. A temporary tightening of supply, coupled with improved bidding results from mining companies, supported the upward price movement.

The ammonium paratungstate (APT) market saw fewer proactive quotations, with traders prioritizing price stabilization. Market participants are waiting for finalized long-term contract purchase prices from major manufacturers and confirmation of actual end-user demand.

Boosted by climbing raw material costs, tungsten powder prices edged higher, though downstream buyers hesitate to accept high pricing and stay on the sidelines for inventory replenishment, resulting in slightly weaker trading volumes. Cobalt powder is under pricing pressure amid sluggish orders from cemented carbide manufacturers.

Ferrotungsten prices inched up alongside rising ore prices, with downstream steel mills carrying out moderate inventory restocking.

Tungsten scrap prices have jumped nearly 20% over the past week. Scrap recyclers hold mixed bullish and prudent views, keeping overall market transactions restrained.