Monthly Tungsten Market Report Mar 2025

Content

1. Market Highlights 2
2. Economy and Policy 2
2.1 Canada to extend mineral exploration tax credit for two Years 2
2.2 Uzbekistan imposes export taxes on metal waste and copper 2
2.3 EU selects 47 strategic projects to ensure access to key minerals 2
2.4 Uzbekistan to launch 76 mining projects over the next three years 2
2.5 Kyrgyzstan extends ban on export of ferrous metal waste for another six months 2
3. Market Movements 2
3.1 Market Movements in China 2
3.1.1 EXW prices for Chinese tungsten concentrate 65%min 2
3.1.Asian Metal Copyright5%min 5 3.Asian Metal Copyright2 EXW prices for Chinese APT 88.5%min 3
3.1.Asian Metal Copyright10 Prices for Chinese tungsten grinding sward scrap W70%min Co5%min Ex-VAT delivered 4 3.Asian Metal Copyright3 EXW prices for Chinese tungsten oxide 99.95%min 3
3.1.Asian Metal Copyright2.Asian Metal Copyright4 EXW prices for Chinese tungsten carbide powder 99.Asian Metal Copyright1.Asian Metal Copyright8%min 2.Asian Metal Copyright4 Uzbekistan to launch 76 mining projects over the next three years 2 2.Asian Metal Copyright5-7.0μm 3
3.1.Asian Metal Copyright1 Chinese tungsten carbide producers' operating rate down by 5.Asian Metal Copyright5 EXW prices for Chinese tungsten powder 99.Asian Metal Copyright2 Uzbekistan imposes export taxes on metal waste and copper 2 2.Asian Metal Copyright95%min 2.Asian Metal Copyright3.Asian Metal Copyright5-7.0μm 3
3.1.6 EXW prices for Chinese ferrotungsten 75%min 3
3.1.7 EXW prices for Chinese ferrotungsten 70%min 4
3.1.Asian Metal Copyright8 EXW prices for Chinese tungsten bar 99.Asian Metal Copyright8 EXW prices for Chinese tungsten bar 99.9%min 4
3.1.9 EXW prices for Chinese sodium tungstate 68%min 4
3.1.10 Prices for Chinese tungsten grinding sward scrap W70%min Co5%min (Ex-VAT delivered) 4
3.1.11 Prices for Chinese tungsten scrap CNC cutting blade W70%min (Ex-VAT delivered) 4
3.1.12 Prices for Chinese tungsten scrap anvil 90%min (Ex-VAT delivered) 5
3.1.13 Prices for Chinese tungsten scrap drill 70%min (Ex-VAT delivered) 5
3.2 Export Market Movements 5
3.2.Asian Metal Copyright2 Chinese APT producers' output down by 3.Asian Metal Copyright1 FOB prices for Chinese APT 88.5%min 5
3.2.Asian Metal Copyright3 Market Movements Abroad 6 3.Asian Metal Copyright2 FOB prices for Chinese tungsten carbide powder 99.Asian Metal Copyright3% YoY in February 2024 11 6.Asian Metal Copyright8%min 2.Asian Metal Copyright1.Asian Metal Copyright5-7.0μm 5
3.2.Asian Metal Copyright3 Chinese tungsten carbide producers' stocks down by 16.Asian Metal Copyright3 FOB prices for Chinese tungsten oxide WO3 99.95%min 5
3.2.4 FOB prices for Chinese ferrotungsten 75%min 6
3.2.Asian Metal Copyright0μm 3 3.Asian Metal Copyright5 FOB prices for Chinese tungsten bar W-4 99.9%min 6
3.3 Market Movements Abroad 6
3.3.1 FOB prices for African tungsten concentrate 50%min 6
3.3.Asian Metal Copyright77% YoY in February 2025 12 6.Asian Metal Copyright2 Prices for European APT 88.5%min in warehouse Rotterdam 6
3.3.3 Prices for European ferrotungsten 75%min in warehouse Rotterdam 6
4. Company News 7
4.1 EQ Resources wins $124 million tungsten purchase contract 7
5. Producers Statistics 7
5.1 Data on tungsten concentrate 7
5.1.Asian Metal Copyright5 China's yellow tungsten oxide export volume up by 74.Asian Metal Copyright1 Chinese tungsten concentrate producers' operating rate up by 1.55% YoY in March 7
5.1.Asian Metal Copyright5 FOB prices for Chinese tungsten bar W-4 99.Asian Metal Copyright2 Chinese tungsten concentrate producers' output down by 0.74% YoY in March 7
5.1.3 Chinese tungsten concentrate producers' stocks down by 100% YoY in March 8
5.2 Data on APT 8
5.2.Asian Metal Copyright2.Asian Metal Copyright1 Chinese APT producers' operating rate up by 0.87% YoY in March 8
5.2.Asian Metal Copyright2 Chinese APT producers' output down by 3.Asian Metal Copyright2 Chinese APT producers' output down by 3.12% YoY in March 8
5.2.3 Chinese APT producers' stocks down by 50% YoY in March 9
5.3 Data on tungsten carbide 9
5.3.Asian Metal Copyright5 EXW prices for Chinese tungsten powder 99.Asian Metal Copyright1 Chinese tungsten carbide producers' operating rate down by 5.28% MoM in March 9
5.3.Asian Metal Copyright4 FOB prices for Chinese ferrotungsten 75%min 6 3.Asian Metal Copyright2 Chinese tungsten carbide producers' output down by 5.29% MoM in March 10
5.3.Asian Metal Copyright1.Asian Metal Copyright3 Chinese tungsten carbide producers' stocks down by 16.67% YoY in March 10
6. Import and export statistics 11
6.1 China's ammonium paratungstate export volume down by 23.07% YoY in February 2025 11
6.2 China's tungsten carbide export volume down by 80.3% YoY in February 2024 11
6.3 China's tungsten powders export volume up by 69.77% YoY in February 2025 12
6.4 China's blue tungsten oxide export volume down by 57.5% MoM in February 2025 12
6.5 China's yellow tungsten oxide export volume up by 74.02% YoY in February 2025 13


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