Group 1 - The price of mainstream domestic 65% black tungsten concentrate has reached 416,600 CNY per ton, an increase of over 190% since the beginning of the year [1] - Short-term outlook suggests that tungsten prices are expected to continue to run strong and reach new highs due to supply-side constraints, including declining ore grades and stricter regulations [1] - Domestic production is under pressure due to reduced mining quotas and a general slowdown in production pace, while demand remains stable, primarily driven by essential purchases and PCB tool demand [1] Group 2 - Long-term expectations indicate that the global tungsten supply-demand relationship will remain tight, driving the price center of tungsten to continue rising [1] - Global tungsten production is projected to increase from 79,500 tons in 2023 to 89,900 tons by 2028, while global demand is expected to rise from 96,200 tons to 110,000 tons during the same period [1] - Major domestic tungsten companies have raised long-term prices for early December, boosting market bullish sentiment [1]
机构：钨价有望继续偏强运行