According to data from Wande on December 22, the price of black tungsten concentrate in China climbed to 449,600 yuan/ton. The price rose by 19,900 yuan in a single day, or 4.63%, up 214.87% from the price at the beginning of the year. According to data from Changjiang Nonferrous Metals Network on December 22, the average spot price of tungsten powder was 1.09 million yuan/ton, a sharp increase of 72,500 yuan in a single day, an increase of about 7.1%. The price range climbed to 1.08 million yuan/ton to 1.1 million yuan/ton, continuing the strong trend of tungsten prices during the year. According to CICC, global raw tungsten production is expected to increase from 82,800 tons to 89,900 tons from 2025 to 2028, while demand will increase from 102,100 tons to 110,000 tons during the same period, and the gap between supply and demand will continue. In the medium to long term, as the transformation and upgrading of the manufacturing industry accelerates, marginal demand for new tungsten-based materials in new application fields such as AI, controlled nuclear fusion, and new infrastructure will be further released, providing long-term support for tungsten prices. According to agency forecasts, on the basis of profits for the same period last year, the net profit of Xiamen Tungsten Industry and China Tungsten Industry increased by more than 40% year on year; the net profit of Luoyang Molybdenum Industry and Zhangyuan Tungsten Industry increased by more than 30% year on year; and Guangsheng Nonferrous is expected to turn a loss into a profit.

According to data from Wande on December 22, the price of black tungsten concentrate in China climbed to 449,600 yuan/ton. The price rose by 19,900 yuan in a single day, or 4.63%, up 214.87% from the price at the beginning of the year. According to data from Changjiang Nonferrous Metals Network on December 22, the average spot price of tungsten powder was 1.09 million yuan/ton, a sharp increase of 72,500 yuan in a single day, an increase of about 7.1%. The price range climbed to 1.08 million yuan/ton to 1.1 million yuan/ton, continuing the strong trend of tungsten prices during the year. According to CICC, global raw tungsten production is expected to increase from 82,800 tons to 89,900 tons from 2025 to 2028, while demand will increase from 102,100 tons to 110,000 tons during the same period, and the gap between supply and demand will continue. In the medium to long term, as the transformation and upgrading of the manufacturing industry accelerates, marginal demand for new tungsten-based materials in new application fields such as AI, controlled nuclear fusion, and new infrastructure will be further released, providing long-term support for tungsten prices. According to agency forecasts, on the basis of profits for the same period last year, the net profit of Xiamen Tungsten Industry and China Tungsten Industry increased by more than 40% year on year; the net profit of Luoyang Molybdenum Industry and Zhangyuan Tungsten Industry increased by more than 30% year on year; and Guangsheng Nonferrous is expected to turn a loss into a profit.