“工业牙齿”，价格飙涨超600%！

Core Viewpoint - The article discusses the significant rise in tungsten prices over the past year, impacting various sectors of the tungsten industry, including mining, processing, and manufacturing of hard alloy tools. The price of tungsten powder has surged to over 2100 yuan per kilogram, which is more than six times the price from the previous year [4][6]. Industry Impact - Tungsten is a rare metal with unique physical and chemical properties, widely used in industrial applications. The demand for tungsten raw materials, particularly in hard alloy tools, is substantial, with tungsten accounting for over 85% of the material used in standard hard alloy tools [4][6]. - The price of ammonium paratungstate (APT), a key intermediate raw material in the tungsten supply chain, has reached 1.36 million yuan per ton, reflecting a 103% increase since the beginning of the year [12][21]. - Mining companies are facing challenges due to the depletion of high-grade tungsten ore, leading to a shift towards protective mining practices. The annual production of tungsten concentrate from certain mines is around 8400 tons, primarily from lower-grade white tungsten [10][12]. Price Trends and Market Dynamics - The global consumption of tungsten is approximately 125,000 tons annually, with hard alloys representing 58% of this demand. The current market dynamics indicate a strong correlation between financial demand and actual consumption, contributing to the recent price surge [17][19]. - As of March 6, the price of black tungsten concentrate (65% content) was reported at 920,000 yuan per standard ton, marking a 100% increase since the beginning of the year [21]. - The Ministry of Natural Resources has set a total tungsten mining quota of 58,000 tons for 2025, which is a reduction from previous years, indicating tighter supply constraints in the future [22]. Strategic Considerations - Companies are adopting various strategies to mitigate rising costs, such as optimizing procurement and enhancing the precision and lifespan of tools to offset the impact of higher raw material prices [8][12]. - The overall strong price trend for tungsten is expected to continue due to the combination of limited supply and increasing demand, creating a "hard gap" in the market [22].