Analysis of Latest Tungsten Market from Chinatungsten Online
This week, tungsten prices trended downwards overall, with market activity declining and few new orders.
From the supply side, some speculative buyers were eager to take profits, selling at prices below mainstream market quotes, directly dragging down overall prices and triggering some panic. Furthermore, increased imports, decreased exports, and growth in scrap tungsten have led to an actual expansion of domestic supply. With weakening bullish sentiment and demand for strategic resources, coupled with limited actual consumption growth, bearish expectations have risen in the market.
From the demand side, during the previous six-fold increase in tungsten prices, downstream tungsten product manufacturers reduced their purchasing demand due to significant cost pressures, although some maintained some restocking based on price increases and their own financial strength. However, the current price correction from high levels, coupled with widespread bearish sentiment, has further weakened buyers' willingness to purchase, with a stronger push for lower prices. New orders have shrunk, weakening the support from demand for prices.
China Tungsten Online believes that the long-term value foundation of tungsten as a core strategic metal asset remains solid, but the market is currently facing some downward pressure in the short term. A rational price adjustment will help digest previous overheated sentiment, opening a window for subsequent liquidity replenishment, and providing necessary time and space for upstream and downstream enterprises to re-anchor cost and profit distribution and restore supply-demand balance. However, the risk of a stampede triggered by the spread of panic should be guarded against. Participants are advised to maintain rational judgment.
As of press time,
65% wolframite concentrate is priced at RMB 960,000/ton, down 8.6% from its peak, but up 108.7% since the beginning of the year.
65% scheelite concentrate is priced at RMB 959,000/ton, down 8.6% from its peak, but up 108.9% since the beginning of the year.
Ammonium paratungstate (APT) is priced at RMB 1,450,000/ton, down 4.6% from its peak, but up 116.4% since the beginning of the year.
European APT is priced at USD 2800-3150/mtu (equivalent to RMB 1.706-1.919 million/ton), up 223.4% from the beginning of the year.
Tungsten powder is priced at RMB 2340/kg, down 2.5% from its peak, but up 116.7% from the beginning of the year.
Tungsten carbide powder is priced at RMB 2280/kg, down 2.6% from its peak, but up 119.2% from the beginning of the year.
Cobalt powder is priced at RMB 580/kg, up 11.5% from the beginning of the year.
70% ferrotungsten is priced at RMB 1,380,000/ton, down 2.8% from its peak, but up 112.3% from the beginning of the year.
European ferrotungsten is priced at USD 310-330/kg W (equivalent to RMB 1.494-1.59 million/ton), up 132.7% from the beginning of the year.
Scrap tungsten rods are priced at RMB 1030/kg, down 24.8% from its peak, but up 71.7% from the beginning of the year.
Scrap tungsten drill bits are priced at RMB 1000/kg, down 27.0% from its peak, but up 72.4% from the beginning of the year.
Prices of Tungsten Products on April 3, 2026
Tungsten Price Trend from January 2025 to April 2026
