近两个月中国净出口为负，而过去是净出口，钨供需发生较大变化。国内外钨供应紧张，短期内难以缓 解，长单价格上调。 钨的库存低，钨资源处在较高位置上符合产业政策，再加上钨的战略地位提高，短期内钨价格易涨难 跌。长单价格公布后，钨市场价格继续上涨，65%黑钨精矿价格在35.8万元/吨，APT价格在53万元/吨 左右。 以下是国内主要钨企业12月上半月长单价格： 江西钨业控股集团有限公司：国标一级黑钨精矿2025年12月上半月报价35万元/标吨，较上期报价涨2.5 万元/吨。 章源钨业：12月上半月钨长单含税价公布，其中黑钨精矿(WO3≥55%)价格为35万元/标吨，白钨精矿 (WO3≥55%)价格为34.9万元/标吨，分别较上期报价上调2.2万元/吨；仲钨酸铵（APT）长单价格51万元/ 吨，较上期报价涨3.2万元/吨。 厦门钨业：厦门钨业12月上半月APT报价公布，APT含税长单现款采购价格50万元/吨，较上期报价涨3 万元/吨。 赣州钨协：2025年12月钨产品预测均价发布，55%黑钨精矿35万元/标吨，较上期报价上调4.1万元/吨； APT51万元/吨，上调5.7万元/吨；中颗粒钨粉880元/公斤，上调150 ...

Investment Ratings - The report maintains a positive outlook on copper, aluminum, and rare earths, indicating high market activity and potential for growth [12][33][34]. Core Insights - Copper prices increased by 4.38% to $11,665.00 per ton on LME, with domestic prices rising by 6.12% to 92,800 yuan per ton, driven by supply constraints and high demand [1][13]. - Aluminum prices rose by 1.24% to $2,900.50 per ton on LME, with domestic prices up 3.4% to 22,300 yuan per ton, reflecting stable demand despite seasonal fluctuations [2][14]. - Gold prices decreased by 0.87% to $4,227.7 per ounce, influenced by geopolitical risks and market volatility, while SPDR gold holdings increased [3][15]. - Rare earth prices, particularly praseodymium-neodymium oxide, rose by 2.79%, with expectations of increased demand due to supply constraints and favorable export conditions [4][34]. - Antimony prices decreased by 1.79%, but the outlook remains positive due to anticipated recovery in exports [4][35]. - Tin prices increased by 4.70%, supported by low inventory levels and supply disruptions in Indonesia and Myanmar [4][36]. Summary by Sections Copper - LME copper price increased by 4.38% to $11,665.00 per ton, with domestic prices at 92,800 yuan per ton [1][13]. - Supply constraints are evident with a decrease in copper inventory and processing fees [1][13]. - Downstream demand is weakening due to high prices, leading to a decline in new orders [1][13]. Aluminum - LME aluminum price rose by 1.24% to $2,900.50 per ton, with domestic prices at 22,300 yuan per ton [2][14]. - Inventory levels remain stable, but processing rates have decreased slightly [2][14]. - Demand is cautious due to high prices affecting transaction volumes [2][14]. Precious Metals - Gold prices fell by 0.87% to $4,227.7 per ounce, with geopolitical factors influencing market dynamics [3][15]. - SPDR gold holdings increased, indicating a slight uptick in investor interest [3][15]. Rare Earths - Praseodymium-neodymium oxide prices increased by 2.79%, with expectations of higher demand due to supply constraints [4][34]. - Export conditions are improving, contributing to a positive outlook for the sector [4][34]. Antimony - Antimony prices decreased by 1.79%, but the long-term outlook remains optimistic due to potential export recovery [4][35]. Tin - Tin prices increased by 4.70%, driven by low inventory levels and supply disruptions [4][36].

证券日报网讯12月4日晚间，章源钨业（002378）发布公告称，控股股东崇义章源投资控股有限公司及 其一致行动人黄世春于2025年11月7日、12月3日通过大宗交易合计减持13，852，900股，占公司总股本 1.1530%，持股比例由58.7742%降至57.6212%，触及1%整数倍。 ...

Market Overview - Major stock indices in the A-share market experienced a collective rise, with the Shanghai Composite Index up by 0.08%, the Shenzhen Component Index up by 0.39%, and the ChiNext Index up by 0.47% [1] Sector Performance - The optical module sector continued to show strength, with the concept index rising by 4.41%. Other sectors such as superconductors, fiberglass, and charging piles also saw significant gains [2] New Stock Performance - The stock N-Mole-U debuted on the STAR Market, opening with a surge of 468% and reaching a peak increase of 502.03%, trading at 688 CNY per share. By midday, it closed with a gain of 416.79% at 590.59 CNY per share. Investors holding one lot (500 shares) could potentially earn over 286,860 CNY [3] Market Reaction to New Listings - Following the listing of N-Mole-U, related A-share stocks experienced a collective pullback. For instance, Heertai saw a drop of 9.32%, while Yingqu Technology and others also faced declines of over 3% [4] Tungsten Market Dynamics - Tungsten product prices have surged significantly, with black tungsten concentrate prices reaching 353,000 CNY per ton, reflecting a 146.85% increase since the beginning of the year. APT and tungsten powder prices also saw substantial increases of 145.5% and 161.08%, respectively [6][9] Supply and Demand Factors - The price increase in tungsten products is attributed to supply constraints and rising demand. China, being a major producer and consumer, is projected to produce approximately 67,000 metric tons of tungsten in 2024, accounting for 82.7% of global output. The government has also implemented mining quotas, reducing the total output for 2025 by 6.45% compared to 2024 [9] Emerging Applications and Industry Outlook - Companies in the tungsten sector are actively exploring new applications in emerging industries. For instance, Zhongtung High-tech has developed high-quality nano-grade tungsten carbide powder for PCB micro-drills, while Xiamen Tungsten is expanding its tungsten wire applications in the photovoltaic sector [11][12] Company Performance - Tungsten-related stocks have shown positive earnings trends, with companies like Xianglu Tungsten and Guangsheng Nonferrous Metals turning profitable. Other companies reported significant year-on-year profit growth, with Luoyang Molybdenum and Hunan Gold seeing increases of 72.61% and 54.28%, respectively [12]

Core Viewpoint - The prices of tungsten products have surged significantly in 2023, with black tungsten concentrate prices increasing over 140% year-to-date, driven by supply constraints and rising demand in high-end manufacturing and emerging industries [1][3]. Price Trends - As of December 5, black tungsten concentrate (≥65%) is priced at 353,000 CNY/ton, up 3.8% week-on-week; APT (ammonium paratungstate: ≥88.5%) is at 518,000 CNY/ton, up 4.7%; tungsten powder is at 825 CNY/kg, up 3.8% [1]. - Compared to the beginning of the year, black tungsten concentrate has increased by 146.85% from 143,000 CNY/ton, APT by 145.5%, and tungsten powder by 161.08% [1][3]. Supply and Demand Dynamics - China is the world's leading tungsten producer and consumer, with an estimated production of 67,000 metric tons in 2024, accounting for 82.7% of global output [3]. - The Ministry of Natural Resources and the Ministry of Industry and Information Technology have set a total mining control target of 58,000 tons for tungsten concentrate (65% WO3) in 2025, a decrease of 4,000 tons (6.45%) from 2024 [3]. - The demand for tungsten is driven by its unique physical properties, making it essential in high-end manufacturing and emerging industries such as photovoltaics, military, and semiconductors [3]. Future Outlook - According to Zhejiang Securities, the recovery of China's manufacturing sector is expected to accelerate post-global interest rate cuts, which will boost tungsten consumption [4]. - New applications in AI, controlled nuclear fusion, and new infrastructure are anticipated to increase marginal demand for tungsten-based new materials [4]. Company Developments - Seven A-share companies involved in tungsten production have seen collective stock price increases, averaging 2.02%, with notable gains from Zhongtung High-tech, Xianglu Tungsten, and Luoyang Molybdenum [5]. - Companies are actively expanding tungsten applications in emerging industries, with Zhongtung High-tech successfully producing high-quality nano-grade tungsten carbide powder for PCB micro-drills [5]. - Xiamen Tungsten is focusing on expanding its tungsten wire applications in photovoltaics, achieving significant results with mainstream product lines reaching below 28μ in diameter [5]. - Zhangyuan Tungsten is committed to high-value hard alloy markets, focusing on aerospace and new energy sectors, and developing core business areas including cutting tools and high-end ceramic materials [6]. Financial Performance - In the first three quarters, tungsten-related companies reported improved profitability, with Xianglu Tungsten and Guangsheng Nonferrous turning profitable, while others like Luoyang Molybdenum, Hunan Gold, and Zhangyuan Tungsten saw significant year-on-year profit growth of 72.61%, 54.28%, and 29.71% respectively [6].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002378 证券简称：章源钨业 公告编号：2025-056 崇义章源钨业股份有限公司 关于控股股东部分股份解除质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 一、股东股份解除质押基本情况 崇义章源钨业股份有限公司（以下简称"公司"或"本公司"）于近日接到控股股东崇义章源投资控股有限 公司（以下简称"章源控股"）函告，获悉章源控股所持本公司的部分股份解除质押，具体事项如下： 1．本次股份解除质押的基本情况 ■ 2.股东股份累计质押的基本情况 截至本公告披露日，上述股东及其一致行动人所持质押股份情况如下： ■ 3.章源控股资信状况良好，具备资金偿付能力。其所质押的股份不存在平仓风险或被强制过户风险，不 会对本公司生产经营、公司治理产生影响，本次股份解除质押不涉及业绩补偿义务履行。本公司将持续 关注章源控股股份质押变动情况及风险，并及时履行信息披露义务。 二、备查文件 1. 证券质押及司法冻结明细表； 2.解除证券质押登记通知。 特此公告。 崇义章源钨业股份有限公司董事会 证券代码：00237 ...

证券日报网讯 12月4日晚间，章源钨业发布公告称，控股股东崇义章源投资控股有限公司所持9，500， 000股股份于2025年12月1日解除质押，占其所持股份比例1.37%，占公司总股本比例0.79%。 （文章来源：证券日报） ...

截至发稿，章源钨业市值为152亿元。 每经头条（nbdtoutiao）——让"铁疙瘩"从数万米高空精准"踩刹车"，中国商业航天"降本复用"只差"最 后一公里"！朱雀之后，同行排队接力 （记者 王晓波） 每经AI快讯，章源钨业（SZ 002378，收盘价：12.69元）12月4日晚间发布公告称，公司于近日接到控 股股东崇义章源投资控股有限公司（以下简称"章源控股"）函告，获悉章源控股所持本公司的部分股份 解除质押，本次解除质押950万股。截至本公告日，章源控股累计质押股数约为3.7亿股，占其所持股份 比例为53.54%。 2025年1至6月份，章源钨业的营业收入构成为：有色金属采掘和冶炼和金属及加工占比91.51%，其他 业务占比8.49%。 ...

证券代码：002378 证券简称：章源钨业 公告编号：2025-055 | 4．承诺、计划等履行情况 | | | --- | --- | | | 是 否□ | | | 公司于 年 月 日在《证券时报》《中国证券报》 2025 9 13 | | | 《上海证券报》和巨潮资讯网（http://www.cninfo.com.cn） | | | 披露了《控股股东减持股份预披露公告》（公告编号 | | 本次变动是否为履行已作出 | | | 的承诺、意向、计划 | 个交易日 2025-045），章源控股计划在该公告发布之日起 15 | | | 后的 3 个月内，以大宗交易方式减持本公司股份不超过 | | | 24,000,000 股（占本公司总股本比例 2%）。 | | | 截至本公告披露日，章源控股已通过大宗交易方式减持 | | | 13,852,900 股。 | | 本次变动是否存在违反《证券 | | | 法》《上市公司收购管理办法》 | | | 等法律、行政法规、部门规章、 | 是□ 否 | | 规范性文件和本所业务规则 | | | 等规定的情况 | | | 5．被限制表决权的股份情况 | | | 按照《证券法 ...

| 股东 | 是否为控股股东 | 本次解除质 | 占其所持 | 占公司总 | 起始日 | | 解除日期 | | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 或第一大股东及 | 押股份数量 | 股份比例 | 股本比例 | | | | | | | | 其一致行动人 | （股） | | | | | | | | | 章源 | 为公司 | 9,500,000 | 1.37% | 0.79% | 2024 | 年 | 2025 | 年 | 兴业银行股份有限公 | | 控股 | 控股股东 | | | | 11 月 | 25 日 | 12 月 1 | 日 | 司赣州分行 | 崇义章源钨业股份有限公司 关于控股股东部分股份解除质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 证券代码：002378 证券简称：章源钨业 公告编号：2025-056 一、股东股份解除质押基本情况 崇义章源钨业股份有限公司（以下简称"公司"或"本公司"）于近日接到控股 股东崇义章源投资控 ...