Below link is an article from SMM which covers the Chinese...

Below link is an article from SMM which covers the Chinese tungsten market - its quite a lengthy read, so I have pulled out a few of the key points they are making.

Essentially, the tungsten market is going through an unprecedented stage of dynamics primarily driven by "new technology demands" - suffice to say though, that the raw concentrate product is in increasing demand.


https://news.metal.com/newscontent/102766940/Multiple-tungsten-companies-raised-their-long-term-contract-prices,-tungsten-ore-prices-have-increased-by-315-over-the-past-six-months-%5bSMM-Comment%5d/

According to SMM, the continuous rise in tungstenprices has made downstream procurement increasingly cautious, with the marketmainly maintaining on-demand purchases
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According to SMM, the continuous upward trend ofthe tungsten industry chain over the past six months has been mainly driven bythe tight supply of upstream raw material tungsten ore.
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In April, tungsten concentrate imports saw significant increases bothMoM and YoY. According to data from the General Administration of Customs: InApril 2024, China's tungsten concentrate imports were 818.03 mt, up 109.9%MoM and 106.2% YoY.
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On the demand side, the high tungsten prices have led many downstreamtungsten companies to maintain on-demand purchasesto ensure production anddelivery for long-term contracts.
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Due to the relatively long service life and low cutting loss rate ofphotovoltaic tungsten wire, which can reduce costs and increase efficiency forphotovoltaic companies, the demand for tungsten in the photovoltaic sectoris expected to grow
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Considering the support of long-term contract prices from tungstencompanies, tungsten prices are expected to continue to rise