Analysis of Latest Tungsten Market from Chinatungsten Online
Tungsten prices continued to rise this week, mainly driven by supportive sentiment on the supply side and the intervention of external speculative funds. Miners and smelters had limited active selling, exhibiting a consistent attitude of holding back sales to support the market; powder manufacturers passively followed suit with price increases; while downstream companies such as cemented carbide and tungsten materials engaged in restocking, leading to some transaction release, their acceptance of further price increases was limited, with increased inquiries but cautious actual transactions. Overall, market participants had differing opinions on the future trend, with most maintaining a wait-and-see attitude.
According to a survey by China Tungsten Online, since the tungsten market bottomed out and rebounded in late May, downstream restocking orders have been gradually released. After nearly two weeks of concentrated purchasing, rigid demand orders have gradually become limited. During this period, the speculative atmosphere intensified, amplifying raw material price fluctuations, with the cumulative price increase of major tungsten products reaching approximately 20% within the week. Specifically, the tungsten concentrate market showed reluctance to sell below RMB 500,000/ton, while tungsten carbide powder rose to RMB 1.2 million/ton. With this price increase, actual consumers' fear of high prices also intensified. The divergence in price preferences between buyers and sellers has widened, leading to a price increase but decreased volume in the market, with increasingly cautious trading. Going forward, market participants will focus on the guidance prices from industry institutions and large tungsten enterprises, as well as the ongoing interplay between supply and demand regarding price acceptance, willingness to trade, market expectations, and financial strength. Tungsten products newly prices as followings.
65% wolframite concentrate: RMB 500,000/ton, up 19.1% week-on-week and 8.7% year-to-date.
65% scheelite concentrate: RMB 499,000/ton, up 19.1% week-on-week and 8.7% year-to-date.
Ammonium paratungstate (APT): RMB 770,000/ton, up 14.9% week-on-week and 14.9% year-to-date.
European APT: USD 2,900-3,180/mtu (equivalent to RMB 1.739-1.907 million/ton), down 1.0% week-on-week but up 230.4% year-to-date.
Tungsten powder: RMB 1200/kg, up 20.0% week-on-week and 11.1% year-on-year.
Tungsten carbide powder: RMB 1150/kg, up 21.1% week-on-week and 10.6% year-on-year.
Cobalt powder: RMB 550/kg, down 2.7% week-on-week and up 5.8% year-on-year.
70% ferrotungsten: RMB 760,000/ton, up 8.6% week-on-week and 16.9% year-on-year.
European ferrotungsten: USD 200-250/kg W (equivalent to RMB 948,000-1,186,000/ton), down 6.3% week-on-week and up 63.6% year-on-year.
Scrap tungsten carbide rod: RMB 770/kg, up 13.2% week-on-week and 28.3% year-on-year.
Scrap tungsten carbide drill bit: RMB 720/kg, up 14.3% week-on-week and 24.1% year-on-year.
Prices of Tungsten Products on June 5, 2026
Tungsten Price Trend from January 2025 to June 2026
