The US tungsten market experienced a period of stabilization and recovery in July ****, following a sustained price correction. Early July saw Chinese tungsten prices continue their downward trajectory, with one major tungsten enterprise lowering long-term contract purchase quotations for the second half of July to ***,*** yuan/standard tonne for *** wolframite concentrate. However, entering late July, the tungsten market shifted into a phase of consolidation and repair, as low-priced goods became increasingly difficult to find and upstream suppliers demonstrated a strong willingness to hold prices firm. The stabilization was supported by quotes from leading tungsten enterprises and a tightening of raw material supply. The divergence between domestic and international tungsten prices persisted, with European APT levels reflecting ongoing tight non-Chinese supply at USD *,***-*,***/mtu.
Structural supply constraints continued to underpin long-term tungsten price support. The Pentagon&#**;s looming ban on Chinese-sourced tungsten, effective January ****, intensified strategic interest in Western tungsten projects. Patriot Critical Minerals CEO noted that meaningful new tungsten supply remains...
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