Tungsten prices hit a new high of more than ten years.

On July 22nd, the price of black tungsten concentrate rose to 184,000 yuan per ton, white tungsten concentrate to 183,000 yuan per ton, tungsten powder to 400 yuan per kilogram, and APT to 268,000 yuan per ton. The prices of various types of tungsten have all increased by over 25% since the beginning of the year, setting new historical records across the board. "These prices have far exceeded the peak in 2011," said Mr. Li, a tungsten mining trader in Jiangxi, in an interview with Shanghai Securities News. During the peak in 2011, the highest domestic prices were around 158,000 yuan per ton for black tungsten concentrate and 240,000 yuan per ton for APT. According to industry sources, the current increase in tungsten prices is the result of multiple factors driving demand and supply. Industry insiders predict that due to factors such as tightening of tungsten mining quotas, stricter environmental regulations, and natural decline in ore grade at existing mines, the industry's supply-demand gap is expected to exceed 4,600 tons this year, providing strong support for tungsten prices.