Zhi Tong Cai Jing·2026-02-27 04:10Core Viewpoint - The domestic tungsten market in China has strengthened post-holiday, with leading companies like Zhangyuan Tungsten and Xianglu Tungsten raising long-term prices, reinforcing bullish market expectations and driving the average price of black tungsten concentrate to a record high of 733,500 yuan per standard ton on February 25, marking a year-to-date increase of 61.74% [3] Group 1: Price Movements - The average price of black tungsten concentrate reached a record high of 733,500 yuan per standard ton, with a year-to-date increase of 61.74% [3] - Ammonium paratungstate (APT) prices also rose, recording a year-to-date increase of 61.94% [3] Group 2: Market Dynamics - European tungsten market is experiencing a shortage of downstream inventory, leading to strong price increases during the Spring Festival holiday, contributing to a global price rise in tungsten [3] - Recent proposals from U.S. lawmakers to establish a $2.5 billion "strategic resilience reserve" may elevate tungsten's priority in overseas strategic stockpiling efforts [3] Group 3: Regulatory Environment - China has announced measures to strengthen export controls on dual-use items to Japan, which may impact the tungsten supply chain [3] - U.S. President Trump has proposed increasing the military budget to $1.5 trillion for the fiscal year 2027, potentially sustaining high stockpiling levels overseas and further supporting price increases [3]