Analysis of Latest Tungsten Market from Chinatungsten Online
Tungsten prices remained relatively stable, with sluggish market transactions and a strong wait-and-see attitude among participants ahead of the Dragon Boat Festival. Buyers, aside from essential purchases, were generally cautious about stockpiling, resulting in limited new orders. Sellers believed that price reductions in the current market environment might not effectively attract increased purchases and could instead exacerbate panic buying among downstream buyers; while price increases also lacked demand acceptance. Therefore, mainstream market quotations remained generally stable in the short term, with actual transactions involving flexible negotiation within a certain range based on factors such as customer relationships, product quality differences, and order size.
Cobalt prices have been under pressure recently. On the one hand, demand for cobalt used in battery materials is expected to weaken, as adjustments in the new energy vehicle and consumer electronics industry chains have slowed downstream procurement; on the other hand, consumer enthusiasm in the cemented carbide sector is also weak, leading to relatively weak demand for cobalt. The supply-demand imbalance is suppressing the overall market trend.
According to Cui Dongshu, Secretary-General of the China Passenger Car Association, at the end of May 2026, the national passenger car inventory was 3.48 million vehicles, a decrease of 60,000 vehicles month-on-month and an increase of 30,000 vehicles year-on-year, with manufacturer inventory accounting for 30.3%. Impacted by high oil prices, market satisfaction was low in May, and market optimism dropped to 31% in June. Current inventory supports sales for 66 days, presenting some pressure. New energy vehicle inventory stands at 790,000 units, an increase of 40,000 units month-on-month, but a decrease of 80,000 units compared to May 2025, indicating significant overall inventory pressure in the industry. Tungsten products newly prices as followings.
65% wolframite concentrate price is RMB 525,000/ton, down 50.0% from its peak, but up 14.1% in 2026.
65% scheelite concentrate price is RMB 524,000/ton, down 50.1% from its peak, but up 14.2% in 2026.
Ammonium paratungstate (APT) price is RMB 800,000/ton, down 47.4% from its peak, but up 19.4% in 2026.
European APT price is USD 2,900-3,180/mtu (equivalent to RMB 1.735-1.902 million/ton), down 3.2% from its peak, but up 230.4% in 2026.
Tungsten powder price is RMB 1280/kg, down 46.7% from its peak, up 18.5% in 2026.
Tungsten carbide powder price is RMB 1230/kg, down 47.4% from its peak, up 18.3% in 2026.
Cobalt powder price is RMB 535/kg, down 7.8% from its high but up 2.9% in 2026.
70% ferrotungsten price is RMB 780,000/ton, down 45.1% from its peak, up 20.0% in 2026.
European ferrotungsten price is USD 200-235/kg W (equivalent to is RMB 946,000-1,112,000/ton), down 33.1% from its peak, up 58.2% in 2026.
Scrap tungsten carbide rod price is RMB 780/kg, down 43.1% from its peak, up 30.0% in 2026.
Scrap tungsten carbide drill bit price is RMB 730/kg, down 46.7% from its peak, but up 25.9% in 2026.
Prices of Tungsten Products on June 16, 2026
Tungsten Price Trend from January 2025 to June 2026
