Mei Ri Jing Ji Xin Wen·2025-12-23 09:56Group 1 - Tungsten prices have surged significantly, with ammonium paratungstate (APT) reaching 668,500 yuan/ton as of December 22, up over 200% from 210,500 yuan/ton at the end of last year [1][5] - On December 23, shares of tungsten companies such as Xianglu Tungsten Industry and Zhangyuan Tungsten Industry hit the daily limit, while Xiamen Tungsten Industry and Zhongtung High-tech also saw substantial price increases [1][5] - The strong performance of tungsten prices is attributed to a supply-demand imbalance, with demand increasing and supply constrained due to China's quota system on tungsten mining [7] Group 2 - Companies like Xianglu Tungsten Industry have implemented a pricing mechanism that adjusts every two weeks in response to raw material price fluctuations [4][11] - Xiamen Tungsten Industry reported that their tungsten raw material production is approximately 12,000 tons annually, with a self-sufficiency rate of about 20% [11] - The rising cost of tungsten is not expected to diminish the competitive advantage of tungsten wire in the photovoltaic sector, as its superior properties are widely recognized [12] Group 3 - The market for tungsten wire is expanding beyond photovoltaics into high-end applications in medical and automotive fields, leveraging its excellent fatigue resistance and tensile strength [12] - Xiamen Tungsten Industry is actively developing new mining projects to increase tungsten ore production, while Xianglu Tungsten Industry holds mining rights for significant reserves [13]