中金指出，考虑到国内供给由于品位下降、规范趋严等因素持续偏紧，海外除哈萨克斯坦之外，增量供 应不确定性较大且放量较慢，未来3—5年全球钨供给依然维持偏紧态势。在钨的战略价值不断增强，价 格步入牛市通道的背景下，全球钨业龙头正迎来战略性配置机遇。 （文章来源：证券时报网） 有色板块23日盘中发力拉升，钨概念股表现亮眼。截至发稿，翔鹭钨业涨停，章源钨业涨超9%，厦门 钨业、中钨高新涨超5%。 行业方面，今年3月以来，中国钨精矿价格自14.2万元/吨上涨至9月10日28.8万元/吨高位，随后回落至 26.7万元附近企稳。10月中旬以来，钨价再度开启上涨行情，并连续创下历史新高。 ...

Core Viewpoint - The non-ferrous sector experienced a significant rally on the 23rd, with tungsten concept stocks showing strong performance, indicating a bullish trend in the tungsten market [1] Industry Summary - Since March of this year, the price of tungsten concentrate in China has increased from 142,000 yuan/ton to a high of 288,000 yuan/ton on September 10, before stabilizing around 267,000 yuan/ton [1] - Starting from mid-October, tungsten prices have begun to rise again, continuously reaching historical highs [1] - According to China International Capital Corporation (CICC), domestic supply remains tight due to declining grades and stricter regulations, while overseas supply, except for Kazakhstan, has significant uncertainty and slow growth [1] - The global tungsten supply is expected to remain tight over the next 3-5 years, driven by the increasing strategic value of tungsten and the entry of prices into a bull market [1] - Global tungsten industry leaders are facing strategic allocation opportunities in this context [1]

Group 1 - The price of Chinese black tungsten concentrate (≥65% domestic) has risen to 449,600 CNY per ton, with a daily increase of 19,900 CNY, representing a growth of approximately 4.63%, and a year-to-date increase of 214.87% [1] - Tungsten powder spot average price reported at 1,090,000 CNY per ton, with a significant daily increase of 72,500 CNY, reflecting a rise of about 7.1%, continuing the strong price trend observed throughout the year [1] - From 2025 to 2028, global tungsten production is expected to increase from 82,800 tons to 89,900 tons, while demand is projected to rise from 102,100 tons to 110,000 tons, indicating a persistent supply-demand gap [1] Group 2 - Companies such as Xiamen Tungsten (600549) and China Tungsten High-Tech (000657) are forecasted to see a year-on-year net profit increase of over 40% in 2025, while Luoyang Molybdenum (603993) and Zhangyuan Tungsten (002378) are expected to have net profit growth exceeding 30% [1] - Guangsheng Nonferrous (600259) is anticipated to achieve a turnaround from loss to profit [1] - The marginal demand for tungsten-based new materials in new application fields such as AI, controllable nuclear fusion, and new infrastructure will provide long-term support for tungsten prices [1]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600456 | 宝钛股份 | 35.60 | -1.68% | 31.99万 | | 11.40亿 | | 600301 | 华锡有色 | 40.38 | -1.32% | 8.99万 | | 3.68亿 | | 920068 | 天工股份 | 18.63 | -1.22% | 4.17万 | | 7857.67万 | | 002149 | 西部材料 | 37.30 | -1.11% | 145.58万 | | 55.98亿 | | 600111 | 北方稀土 | 45.55 | 0.11% | 57.47万 | | 26.16 Z | | 002978 | 安宁股份 | 31.95 | 0.22% | 5.07万 | | 1.62亿 | | 688750 | 金天钛业 | 19.04 | 0.26% | 7.06万 | | 1.34亿 | | 001280 | 中国锦业 | 64.43 | 0.45% | 23.91万 | | ...

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交金额 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | 2025-12-22 | 002378 | 草灌铝体 | 12.63 | 20.00 | 252.60 浙商证券股份有限 | 广发证券股份有限 | | | | | | | 公司金华分公司 | 公司深圳金田路证 | | | | | | | | 券营业部 | | 2025-12-22 | 002378 | 草灌铝业 | 12.63 | 15.88 | 200.56 浙商证券股份有限 | 天风证券股份有限 | | | | | | | 公司金华分公司 | 公司江西分公司 | | 2025-12-22 | 002378 | 意漫起不 | 12.63 | 21.00 | 265.23 广发证券股份有限 | 国泰海通证券股份 | | | | | | | 公司南京水佑岗证 | 有限公司南昌红谷 | | | | | | | 券营业部 | 中大道证券营业部 | ...

每经AI快讯，12月20日，章源钨业（002378）公布2025年12月下半月长单采购报价：55%黑钨精矿 44.80万元/标吨，55%白钨精矿44.70万元/标吨，仲钨酸铵(国标零级)65.00万元/吨。注：以上单价含13% 增值税。 ...

转自：证券时报 人民财讯12月20日电，章源钨业公布2025年12月下半月长单采购报价：55%黑钨精矿：44.80万元/标 吨，较12月上半月上调9.8万元/标吨；55%白钨精矿：44.70万元/标吨，较12月上半月上调9.8万元/标 吨；仲钨酸铵(国标零级)：65.00万元/吨，较12月上半月上调14万元/标吨。注：以上单价含13%增值 税。 ...

Core Viewpoint - The increase in upstream tungsten concentrate prices will gradually transmit through the industry chain to downstream products, ultimately affecting the market prices of end products [1] Group 1 - Company stated that the price increase of upstream tungsten concentrate will impact downstream product pricing over time [1]

| 权益类证券大宗交易(协议交易) | | | | | | | 团 下载 | | --- | --- | --- | --- | --- | --- | --- | --- | | 交易日期 | 证券代码 | 证券简称 | 成交价格 (元) | 成交量 (万股/万份) | 成交金额 (万元) | 买方营业部 | 卖方营业部 | | 2025-12-19 | 002378 | 草源钨业 | 12.57 | 16.00 | 201.12 机构专用 | | 国泰海通证券股份 | | | | | | | | | 有限公司南昌红谷 | | | | | | | | | 中大道证券营业部 | 12月19日，章源钨业大宗交易成交16万股，成交额201.12万元，占当日总成交额的0.27%，成交价12.57 元，较市场收盘价14.03元折价10.41%。 ...

12月19日，章源钨业盘中上涨2.08%，截至11:08，报14.26元/股，成交4.47亿元，换手率2.68%，总市值 171.32亿元。 今年以来章源钨业已经3次登上龙虎榜，最近一次登上龙虎榜为11月10日，当日龙虎榜净买入-9497.47 万元；买入总计5080.90万元 ，占总成交额比6.26%；卖出总计1.46亿元 ，占总成交额比17.97%。 资料显示，崇义章源钨业股份有限公司位于江西省赣州市崇义县城塔下，成立日期2000年2月28日，上 市日期2010年3月31日，公司主营业务涉及钨产业链上相关产品(包括APT、氧化钨、钨粉、碳化钨粉、 钨材、硬质合金及其工具等)的冶炼、加工、研发和销售。主营业务收入构成为：碳化钨粉34.10%，钨 粉31.47%，硬质合金21.28%，其他(补充)8.49%，其他产品4.00%，仲钨酸铵0.65%，氧化钨0.01%。 章源钨业所属申万行业为：有色金属-小金属-钨。所属概念板块包括：航天军工、专精特新、稀缺资 源、小金属、基金重仓等。 分红方面，章源钨业A股上市后累计派现8.62亿元。近三年，累计派现2.69亿元。 机构持仓方面，截止2025年9月30日，章源钨 ...