Analysis of Latest Tungsten Market from Chinatungsten Online
Tungsten prices continue their downward trend, putting pressure on market confidence and resulting in weak downstream buying interest. Profit-taking and the release of some products adulterated with waste materials have entered the market at lower prices, impacting the spot market. As tungsten raw material prices decline, downstream purchasing intentions weaken, creating a negative cycle in the market.
In the tungsten concentrate market, the second quarter is traditionally a peak season for production, coupled with profit-taking and the release of resources, resulting in relatively ample market supply. This, combined with cautious demand, has led to a downward shift in market pricing.
65% wolframite concentrate is priced at RMB 870,000/ton, down 17.1% from its high, but up 89.1% from the beginning of the year.
65% scheelite concentrate is priced at RMB 869,000/ton, down 17.2% from its high, but up 89.3% from the beginning of the year.
In the ammonium paratungstate (APT) market, domestic and international price trends have diverged significantly due to supply and demand dynamics. Currently, domestic liquidity is poor, and prices are declining along with raw material prices. Transactions are mainly driven by rigid demand and long-term contracts.
Ammonium paratungstate (APT) is priced at RMB 1,350,000/ton, down 11.2% from its peak, but up 101.5% year-to-date.
European APT is priced at USD 2,800-3,289/mtu (equivalent to RMB 1.69-1.985 million/ton), up 230.9% year-to-date.
In the tungsten powder market, downstream buyers were unwilling to purchase when raw material prices fell, suppressing order volume and price levels. Furthermore, some products adulterated with waste materials attracted orders with low prices, creating additional market volatility.
Tungsten powder is priced at RMB 2,170/kg, down 9.6% from its peak, but up 100.9% year-to-date.
Tungsten carbide powder is priced at RMB 2,100/kg, down 10.3% from its peak, but up 101.9% year-to-date.
Cobalt powder is priced at RMB 575/kg, down 0.9% from its peak, but up 10.6% year-to-date.
In the ferrotungsten market, upstream cost support weakened, downstream demand remained cautious, and a bearish atmosphere prevailed, leading to a downward trend in prices.
70% ferrotungsten is priced at RMB 1,250,000/ton, down 12.0% from its high, but up 92.3% from the beginning of the year.
European ferrotungsten is priced at USD 289-310/kg W (equivalent to RMB 1.38-1.48 million/ton), down 7.9% from its high, but up 117.8% from the beginning of the year.
In the tungsten waste and scrap market, recyclers who had previously stockpiled goods through leverage are now facing difficulties. Selling to cut losses could exacerbate market panic and further depress settlement prices; continuing to hold and wait will subject them to accumulating financial pressure. Trading in the scrap tungsten market is stagnant, with the recent downward trend in raw material prices eroding participant sentiment.
Scrap tungsten rods are priced at RMB 870/kg, down 36.5% from its high, but up 45.0% from the beginning of the year.
Scrap tungsten drill bits are priced at RMB 840/kg, down 38.7% from its peak, but up 44.8% from the beginning of the year.
Prices of Tungsten Products on April 23, 2026
Tungsten Price Trend from January 2025 to April 2026
