2 1 Shi Ji Jing Ji Bao Dao·2025-08-26 05:57Group 1 - The core point of the article highlights a significant increase in tungsten prices, with ammonium paratungstate (APT) reaching 350,000 yuan/ton, a rise of 10,000 yuan/ton from the previous day and a 65.9% increase since the beginning of the year [1] - Black tungsten concentrate (≥65%) is priced at 233,000 yuan/standard ton, and white tungsten concentrate (≥65%) at 232,000 yuan/standard ton, both showing a daily increase of 7,000 yuan/ton and over 60% rise year-to-date [1] - Despite the rising tungsten prices, related concept stocks experienced a collective decline, with the tungsten index dropping 3.7%, marking the largest decline in August [1] Group 2 - Leading companies in the industry have also raised their prices, with Xiamen Tungsten's APT long-term price reaching 279,500 yuan/ton in early August, an increase of 16,500 yuan/ton from late July [2] - The A-share tungsten sector has seen a general rise, with the Tonghuashun tungsten index increasing over 31% in August, and specific companies like Zhangyuan Tungsten and Xianglu Tungsten experiencing stock price increases of 45.56% and 34.48%, respectively [2] - The supply side is under pressure, with a reduction in tungsten ore mining quotas for 2025, decreasing by 4,000 tons or 6.45% compared to 2024, leading to tighter supply expectations [2] Group 3 - Export data shows that tungsten exports in July totaled 1,692.7 tons, a 34.1% increase from June and a 25.2% increase year-on-year, although the cumulative exports from January to July still reflect a 17.9% year-on-year decline [3] - Market analysts maintain an optimistic outlook, citing a significant supply shortage due to reduced mining quotas and delayed allocation of the second batch of quotas, which are expected to influence tungsten prices [3] - The demand side is also expected to grow steadily, driven by new applications in photovoltaic tungsten wire, nuclear shielding materials, and solid-state battery tungsten-based anode materials, maintaining a tight supply-demand balance [3]