Analysis of Latest Tungsten Market from Chinatungsten Online
Tungsten prices continued their weak trend, with little prospect of a significant improvement in the short-term supply and demand fundamentals. Market demand remained sluggish, and prices continued to face downward pressure. While a major tungsten producer in Jiangxi recently released a guidance price for tungsten concentrate that was over 20% lower than before, it remained relatively firm compared to current market negotiation levels, providing some support for prices.
According to a survey by China Tungsten Online, there is a significant discrepancy between publicly quoted prices and actual negotiated prices, with a large price difference. Downstream end-users generally adopted a cautious wait-and-see strategy, significantly slowing their purchasing pace and resulting in few new orders. In terms of transaction structure, the spot market was almost stagnant, and while long-term contracts remained the mainstream, their execution volume was gradually decreasing. Regarding inventory levels, downstream companies are currently mainly relying on digesting previously stockpiled inventory to maintain operations, with inventory turnover cycles ranging from one to two months to quarters or even half a year. This inventory resilience has, to some extent, delayed the release of pent-up demand for raw materials, making it difficult to substantially improve the short-term supply and demand balance, and keeping prices under pressure.
As of press time,
65% wolframite is priced at RMB 700,000/ton, down 33.3% from its peak, but up 52.2% since the beginning of the year.
65% scheelite concentrate is priced at RMB 699,000/ton, down 33.4% from its peak, but up 52.3% since the beginning of the year.
Ammonium paratungstate (APT) is priced at RMB 1,100,000/ton, down 27.6% from its peak, but up 64.2% since the beginning of the year.
European APT is priced at USD 3,000-3,280/mtu (equivalent to RMB 1.807-1.976 million/ton), up 241.3% since the beginning of the year.
Tungsten powder is priced at RMB 1,920/kg, down 20.0% from its peak, but up 77.8% since the beginning of the year.
Tungsten carbide powder is priced at RMB 1,850/kg, down 20.9% from its peak, but up 77.9% since the beginning of the year.
Cobalt powder is priced at RMB 575/kg, down 0.9% from its peak, but up 10.6% from the beginning of the year.
70% ferrotungsten is priced at RMB 1,050,000/ton, down 26.1% from its peak, but up 61.5% from the beginning of the year.
European ferrotungsten is priced at USD 270-298/kg W (equivalent to RMB 1.287-1.42 million/ton), down 12.6% from its peak, but up 106.6% from the beginning of the year.
Scrap tungsten rods are priced at RMB 680/kg, down 50.4% from its peak, but up 13.3% from the beginning of the year.
Scrap tungsten drill bits are priced at RMB 630/kg, down 54.0% from its peak, but up 8.6% from the beginning of the year.
Prices of Tungsten Products on May 07, 2026
Tungsten Price Trend from January 2025 to May 2026
