Analysis of Latest Tungsten Market from Chinatungsten Online
The tungsten market is generally in a stalemate, but beneath the calm surface, undercurrents are stirring. Suppliers' previous reluctance to sell has eased somewhat, while buyers are maintaining a restrained purchasing pace. Upward pressure on tungsten product prices is evident, while downward potential is constrained by costs and supply elasticity. Before the Dragon Boat Festival, most participants are adopting a wait-and-see approach, awaiting a directional catalyst. The current deviation between spot prices and actual negotiated prices is widening.
On the supply side, mines, smelters, and intermediate traders remain reluctant to sell at low prices. However, considering capital and inventory levels, some holders who previously bought at lower prices are choosing to secure profits given the stagnant prices and still reasonable profits. This has led to a marginal increase in the available supply in the market, slightly loosening sellers' bargaining power. It's worth noting that the current increased willingness to sell is not due to pessimistic expectations, but rather an inventory adjustment strategy under the current price stalemate.
On the demand side, the market is in a period of rational contraction driven by risk aversion. Following the significant fluctuations in raw material prices, downstream cemented carbide and related product manufacturers have noticeably lowered their risk appetite. Coupled with the current complex and volatile macroeconomic and political environment, companies generally face order uncertainty and cost transmission pressures, thus lacking the confidence to proactively absorb raw material premiums. The market has largely maintained a sales-driven procurement model, suppressing transaction activity.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% year-to-date.
65% scheelite concentrate price is RMB 524,000/ton, down 50.1% from its peak, but up 14.2% year-to-date.
Ammonium paratungstate (APT) price is RMB 800,000/ton, down 47.4% from its peak, but up 19.4% year-to-date.
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% year-to-date.
Tungsten powder price is RMB 1280/kg, down 46.7% from its peak, up 18.5% year-to-date.
Tungsten carbide powder price is RMB 1230/kg, down 47.4% from its peak, up 18.3% year-to-date.
Cobalt powder price is RMB 530/kg, down 8.6 % from its high but up 1.9% year-to-date.
70% ferrotungsten price is RMB 780,000/ton, down 45.1% from its peak, up 20.0% year-to-date.
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% year-to-date.
Scrap tungsten carbide rod price is RMB 780/kg, down 43.1% from its peak, up 30.0% year-to-date.
Scrap tungsten carbide drill bit price is RMB 730/kg, down 46.7% from its peak, but up 25.9% year-to-date.
Prices of Tungsten Products on June 17, 2026
Tungsten Price Trend from January 2025 to June 2026
