Analysis of Latest Tungsten Market from Chinatungsten Online
The tungsten market continues its strong upward trend, with tungsten powder prices rising by RMB 30,000/ton in a single day, reaching a high of RMB 880,000/ton. This surge in tungsten prices has attracted significant attention both within and outside the industry, generating unprecedented discussion. However, actual transactions are significantly constrained by the high prices, limiting the activity of physical trading.
The current rise in tungsten prices is mainly driven by tight supply and cost-push factors. Market sentiment is generally positive, but the continued rapid increase is also testing the downstream acceptance capacity. Going forward, attention needs to be paid to the follow-up of actual demand, policy adjustments, and the stability of the cash flow at each link in the industrial chain.
In the tungsten concentrate market, the tightening supply continues to dominate the robust foundation of the industrial chain. The scarcity and strategic attributes of tungsten resources are driving product prices to high levels.
65% wolframite concentrate is priced at RMB 363,000/ton, up 153.9% from the beginning of the year.
65% scheelite concentrate is priced at RMB 362,000/ton, up 154.9% from the beginning of the year.
In the ammonium paratungstate (APT) market, directly influenced by the strong tungsten ore market, smelters maintained firm prices, with the fundamentals remaining tight and transactions occurring only on demand.
Domestic APT is priced at RMB 535,000/ton, up 153.6% from the beginning of the year.
European APT is priced at USD 740-800/mtu (equivalent to RMB 463,000-500,000/ton), up 133.3% from the beginning of the year.
In the tungsten powder market, amid rapidly rising costs, market sentiment was bullish, leading to unexpected price increases. However, downstream products such as cemented carbide lagged the pace of raw material price increases, suppressing market activity.
Tungsten powder is priced at RMB 880/kg, up 178.5% from the beginning of the year.
Tungsten carbide powder is priced at RMB 850/kg, up 173.3% from the beginning of the year.
Cobalt powder is priced at RMB 510/kg, up 200% from the beginning of the year.
In the ferrotungsten market, strong cost support and steel mill bidding prices following market trends have resulted in a strong market performance.
70% ferrotungsten is priced at RMB 500,000/ton, up 132.6% from the beginning of the year.
European ferrotungsten is priced at USD 98-100/kg W (equivalent to RMB 485,000-495,000/ton), up 125% from the beginning of the year.
In the tungsten waste and scrap market, following the firm trend of virgin raw materials, a significant price increase has emerged. To mitigate the risk of market fluctuations, trading is proceeding relatively quickly.
Scrap tungsten rods are priced at RMB 530/kg, up 140.9% from the beginning of the year.
Scrap tungsten drill bits are priced at RMB 515/kg, up 125.9% from the beginning of the year.
Prices of Tungsten Products on December 10, 2025
Tungsten Price Trend from January to December 10, 2025
