Analysis of Latest Tungsten Market from Chinatungsten Online
The tungsten market continued its differentiated trend, with upstream prices showing stronger signs of bottoming out and rebounding, while downstream confidence remained to be restored, resulting in cautious market transactions.
In the tungsten concentrate market, recent safety incidents sparked widespread discussion. Although the impact on actual ore supply was limited, they amplified the current market sentiment of bottoming out and stabilizing. As the risks of high prices were somewhat mitigated, the atmosphere of reluctance to sell and support the market strengthened.
65% wolframite concentrate: RMB 410,000/ton, down 61.0% from its peak and 10.9% from the beginning of the year.
65% scheelite concentrate: RMB 409,000/ton, down 61.0% from its peak and 10.9% in 2026.
In the ammonium paratungstate (APT) market, cost and inventory pressures eased somewhat, market confidence improved, and some prices were tentatively raised. Meanwhile, the significant price difference between domestic and international markets also positively boosted market sentiment. However, actual transactions remained suppressed by demand-side pressures and regulations on dual-use items.
Domestic APT: RMB 660,000/ton, down 56.6% from its peak and 1.5% in 2026.
European APT: USD 3,000-3,140/mtu (equivalent to RMB 1.801-1.885 million/ton), down 2.2% from its peak but up 233.7% in 2026.
In the tungsten powder market, transaction prices per ton fell back to near the RMB 1 million mark. With the accumulated bubble this year largely released, coupled with a stronger bottoming-out and rebound sentiment in raw material prices, industry players expect downstream restocking confidence to improve, boosting market stabilization and recovery.
Tungsten powder: RMB 1,000/kg, down 58.3% from its peak and 7.4% in 2026.
Tungsten carbide powder: RMB 950/kg, down 59.4% from its peak and 8.7% in 2026.
Cobalt powder: RMB 565/kg, down 2.6% from its peak, but up 8.7% in 2026.
In the ferrotungsten market, prices remained stable with a wait-and-see attitude, following market trends. Steel mills maintained cautious purchasing intentions, and the market was mainly driven by immediate needs.
70% ferrotungsten: RMB 700,000/ton, down 50.7% from its peak, but up 7.7% in 2026.
European ferrotungsten: USD 255-257.5/kg W (equivalent to RMB 1.211-1.223 million/ton), down 21.2% from its peak, but up 86.4% in 2026.
In the tungsten waste and scrap market, holders were reluctant to sell, while purchasing activity improved, resulting in tight supply and a slight overall price increase. The sustainability of these prices depends on raw material price trends and downstream demand.
Scrap tungsten carbide rod: RMB 650/kg, down 52.6% from its peak, but up 8.3% in 2026.
Scrap tungsten carbide drill bit: RMB 600/kg, down 56.2% from its peak, but up 3.5% in 2026.
Prices of Tungsten Products on May 28, 2026
Tungsten Price Trend from January 2025 to May 2026
