Analysis of Latest Tungsten Market from Chinatungsten Online
With only five days left until the Spring Festival, the tungsten market is gradually entering its traditional holiday and production reduction cycle, with prices remaining stable and trading volume tightening.
From the supply side, constrained by tightening developed resources, long development cycles for projects awaiting development, strict domestic mining and export controls, and a complex international geopolitical environment, the global tungsten supply gap is unlikely to be quickly closed in the short to medium term. However, caution is warranted regarding potential market adjustments and cyclical shifts in sentiment that could trigger periodic operational adjustments and market fluctuations.
From the demand side, tungsten consumption remains robust in high-value-added sectors such as aerospace, new energy, nuclear industry, and military applications, or in applications where current technology offers no alternatives. However, the nearly fourfold increase in tungsten prices since 2025 has placed significant cost pressure on traditional cemented carbide and tool manufacturing sectors, leading to accelerated consolidation and restructuring for some small and medium-sized enterprises.
Looking ahead to the post-holiday market, key attention should be paid to the pace of resumption of production by manufacturing enterprises, the capacity and willingness of end-users to absorb higher prices, and the actual impact of changes in the macroeconomic environment on the marginal supply and demand of the tungsten market.
As of press time:
65% wolframite concentrate is priced at RMB 697,000/ton, up 51.5% from the beginning of the year.
65% scheelite concentrate is priced at RMB 696,000/ton, up 51.6% from the beginning of the year.
Ammonium paratungstate (APT) is priced at RMB 1,020,000/ton, up 52.2% from the beginning of the year.
European APT is priced at USD 1,200-1,550/mtu (equivalent to RMB 734,000-948,000/ton), up 49.5% from the beginning of the year.
Tungsten powder is priced at RMB 1,700/kg, up 57.4% from the beginning of the year.
Tungsten carbide powder is priced at RMB 1,650/kg, up 58.7% from the beginning of the year.
Cobalt powder is priced at RMB 580/kg, up 11.5% from the beginning of the year.
70% ferrotungsten is priced at RMB 970,000/ton, up 49.2% from the beginning of the year.
European ferrotungsten is priced at USD 182-189/kg W (equivalent to 880,000-914,000/ton), up 34.9% from the beginning of the year.
Scrap tungsten rods are priced at RMB 870/kg, up 45.0% from the beginning of the year.
Scrap tungsten drill bits are priced at RMB 840/kg, up 45.8% from the beginning of the year.
Prices of Tungsten Products on February 12, 2026
Tungsten Price Trend from January 2025 to February 2026
