每吨突破50万元！钨价 新高

Core Viewpoint - Tungsten prices continue to rise strongly into 2026, with black tungsten concentrate prices exceeding 500,000 yuan per ton, APT prices surpassing 730,000 yuan per ton, and tungsten powder prices approaching 1,200,000 yuan per ton [1][2]. Group 1: Price Trends - As of January 14, 2026, the prices for various tungsten products are as follows: - Black tungsten concentrate (≥65%) at 500,000 yuan/ton, up 12,000 yuan [2] - APT (≥88.5%) at 735,000 yuan/ton, up 10,000 yuan [2] - Tungsten powder (≥99.7%) at 1,190 yuan/kg, up 20 yuan [2] - The price of black tungsten concentrate was approximately 143,000 yuan/ton at the beginning of 2025, indicating an increase of over 250% to the current level [2][3]. Group 2: Supply and Demand Dynamics - The surge in tungsten prices is driven by strong demand from industries such as photovoltaics and automotive, coupled with tightening supply [3][4]. - The global tungsten supply-demand balance is expected to remain tight due to reduced supply and rigid demand, limiting the potential for price declines [4][5]. Group 3: Market Reactions and Adjustments - Major tungsten companies, including Zhangyuan Tungsten and Xianglu Tungsten, have raised their prices in January 2026, reflecting bullish market sentiment [4][5]. - For instance, Zhangyuan Tungsten's black tungsten concentrate price increased by 12,000 yuan to 460,000 yuan/standard ton [4]. - Customers are gradually accepting higher prices due to the essential nature of tungsten, despite initial skepticism [5]. Group 4: Future Outlook - Analysts predict that the tight supply situation will persist, with limited increases in global tungsten supply due to domestic quota restrictions and slow overseas mining developments [5]. - The demand for tungsten is expected to continue rising in sectors such as aerospace, electronics, and military applications, further supporting price increases [5].