Analysis of Latest Tungsten Market from Chinatungsten Online
Tungsten prices continued their upward trend, primarily driven by suppliers' reluctance to sell at low prices, while demand saw moderate restocking, leading to an overall improvement in market activity. However, industry insiders generally remain cautious about the sustainability of this upward trend, as major application industries are highly sensitive to raw material costs. Confidence among buyers and sellers has diverged, and the market continues to exhibit a supply-demand game.
The tungsten concentrate market showed a clear intention to hold back sales and maintain prices. A temporary tightening of supply, coupled with improved bidding results from mining companies, supported the upward price movement.
65% wolframite concentrate price: RMB 480,000/ton, down 54.3% from its peak, but up 4.4% from the beginning of the year.
65% scheelite concentrate price: RMB 479,000/ton, down 54.3% from its peak, but up 4.4% in 2026.
The ammonium paratungstate (APT) market saw fewer proactive quotations, with a recent focus on supporting the market, awaiting confirmation from large enterprises' long-term contract purchase prices and actual demand.
Domestic APT price: RMB 760,000/ton, down 50.0% from its peak, but up 13.4% in 2026.
European APT price: USD 2,900-3,180/mtu (equivalent to RMB 1.739-1.907 million/ton), down 3.2% from its peak, but up 230.4% in 2026.
The tungsten powder market saw prices rise supported by costs, but buyers remained hesitant about sustained high prices. A wait-and-see attitude increased for those replenishing their inventories, leading to a slight decrease in trading activity. Cobalt powder prices were under pressure due to weak demand from cemented carbide buyers.
Tungsten powder price: RMB 1,180/kg, down 50.8% from its peak, but up 9.3% in 2026.
Tungsten carbide powder price: RMB 1,130/kg, down 51.7% from its peak, but up 8.7% in 2026.
Cobalt powder price: RMB 555/kg, down 4.3% from its high, but up 6.7% in 2026.
The ferrotungsten market saw some upward adjustments following ore prices, with downstream steel mills moderately replenishing their inventories.
70% ferrotungsten powder price: RMB 750,000/ton, down 47.2% from its peak, but up 15.4% in 2026.
European ferrotungsten price: USD 200-250/kg W (equivalent to RMB 948,000-1,186,000/ton), down 30.8% from its peak, but up 63.6% in 2026.
The tungsten waste and scrap market experienced a nearly 20% increase over the past week, with recyclers exhibiting both bullish and hesitant sentiment, resulting in generally cautious trading.
Scrap tungsten carbide rod price: RMB 750/kg, down 45.3% from its peak, but up 25.0% in 2026.
Scrap tungsten carbide drill bit price: RMB 700/kg, down 48.9% from its peak, but up 20.7% in 2026.
Prices of Tungsten Products on June 4, 2026
Tungsten Price Trend from January 2025 to June 2026
