钨价狂飙！业内人士：不是周期性涨价，是战略资源价值的系统性重估

Core Insights - European buyers are increasing prices by 30% to purchase black tungsten concentrate from Chinese sellers, but are unable to secure supplies, indicating a "reluctance to sell" strategy among upstream tungsten industry players facing historically high tungsten prices [1] - Since 2025, tungsten prices have surged significantly, with major domestic tungsten products experiencing an average increase of over 50% from their low points at the beginning of the year, and some products seeing annual cumulative price increases nearing 100% [1] - As of September 24, European APT (Ammonium Paratungstate) prices have soared to between $580/ton and $645/ton (CIF Rotterdam), reflecting a year-on-year increase of over 30% [1] - Domestic APT social inventory has fallen below 200 tons (normal levels are around 600 tons), and hard alloy companies have only 12 days of raw material inventory left (with a safety line of 30 days) [1] - Industry insiders suggest that this price increase is not cyclical but rather a systematic re-evaluation of the value of strategic resources [1]