Analysis of Latest Tungsten Market from Chinatungsten Online
Tungsten prices remained firm, primarily due to the reluctance of miners and smelters to sell and maintain market stability, while downstream end-users continued their cautious, on-demand purchasing strategy. Market confidence was mixed, and the stalemate persisted.
In the tungsten concentrate market, some companies and traders had accumulated capital through profit-taking in the earlier period, while seasonal factors increased supply chain risks. These factors further strengthened bullish market expectations, leading to firm selling prices from suppliers.
65% wolframite concentrate price: RMB 520,000/ton, down 50.5% from its peak, but up 13.0% from the beginning of the year.
65% scheelite concentrate price: RMB 519,000/ton, down 50.5% from its peak, but up 13.1% in 2026.
In the ammonium paratungstate (APT) market, cost transmission and hoarding by holders jointly pushed up prices, with market intentions and some actual transactions reaching 800,000 yuan/ton.
China's APT price: RMB 800,000/ton, down 47.4% from its peak, but up 19.4% in 2026.
European APT price: USD 2900-3180/mtu (equivalent to RMB 1.741-1.909 million/ton), down 3.2% from its peak but up 230.4% in 2026.
In the tungsten powder market, sellers, concerned about the difficulty of restocking raw materials, generally raised their prices; however, buyers had limited acceptance of the rapid price increases, leading to a wait-and-see attitude and a market trend of rising prices but decreasing volume.
Tungsten powder price: RMB 1280/kg, down 46.7% from its peak but up 18.5% in 2026.
Tungsten carbide powder price: RMB 1230/kg, down 47.4% from its peak but up 18.3% in 2026.
Cobalt powder price: RMB 542/kg, down 6.6% from their high for the year but up 4.2% in 2026.
In the ferrotungsten market, supported by both strong raw material costs and downstream restocking demand, the overall market trend is relatively stable.
70% ferrotungsten price: RMB 780,000/ton, down 45.1% from its peak, but up 20.0% in 2026.
European ferrotungsten price: USD 200-230/kg W (equivalent to RMB 950,000-1,092,000/ton), down 33.9% from its peak, but up 56.4% in 2026.
In the tungsten waste and scrap market, selling willingness has increased, while recycling sentiment is correspondingly cautious, increasing the risk of market volatility. Further changes in supply and demand need to be monitored.
Scrap tungsten carbide rod price: RMB 810/kg, down 40.9% from its peak, but up 35.0% in 2026.
Scrap tungsten carbide drill bits price: RMB 760/kg, down 44.5% from its peak, but up 31.0% in 2026.
Prices of Tungsten Products on June 9, 2026
Tungsten Price Trend from January 2025 to June 2026
