
In the first half of 2025, under the influence of structural tightening on the supply side, rigid support from downstream demand, and the interweaving of international geopolitical risks, China’s tungsten market showed a composite operating characteristic of “fluctuating upward-repeatedly setting new highs-periodic correction-high-level fluctuations”. (I) Analysis of Tungsten Price Fluctuations and Their Driving Factors January: Supported by the Spring Festival effect, tungsten prices rose moderately. Affected by factors such as concentrated factory maintenance and holidays before the Spring Festival, the…