Latest Tungsten Market Analysis: Prices Rise on Tight Supply and Cost Pressure
According to the latest update from Chinatungsten Online, tungsten prices continue to climb steadily, supported by multiple structural drivers across the supply chain.
First, tight availability and elevated prices in the tungsten ore market are transmitting rigid cost pressure downstream, leaving limited room for price concessions. Second, although end-user consumption has softened, underlying demand for tungsten materials remains resilient. In response, manufacturers of cemented carbide, tungsten powder, and related products have implemented further price increases to partially absorb rising raw material costs. Third, the announcement of sharply higher long-term contract purchase prices by a leading tungsten producer in Jiangxi earlier this week has significantly strengthened market confidence and reinforced bullish sentiment.
Export Trends Confirm Long-Term Price Strength
A review of China’s tungsten trade data for 2025 highlights the broader price trend. Total export volume of tungsten products declined by 20.71% year-on-year, reflecting global geopolitical uncertainty, economic volatility, and tighter controls on dual-use materials. However, the export value fell by only 0.51%, indicating a substantial increase in unit export prices. This divergence further confirms that tungsten prices trended higher throughout 2025, despite lower shipment volumes.
Latest Tungsten Price Levels (Year-to-Date Change)
65% Wolframite Concentrate: RMB 528,000/ton, +14.8% YTD 65% Scheelite Concentrate: RMB 527,000/ton, +14.8% YTD Ammonium Paratungstate (APT): RMB 770,000/ton, +14.9% YTD European APT: USD 987–1,050/mtu (≈ RMB 608,000–647,000/ton), +10.7% YTD Tungsten Powder: RMB 1,240/kg, +14.8% YTD Tungsten Carbide Powder: RMB 1,200/kg, +15.4% YTD Cobalt Powder: RMB 580/kg, +11.5% YTD 70% Ferrotungsten: RMB 735,000/ton, +13.1% YTD European Ferrotungsten: USD 140–145/kg W (≈ RMB 683,000–707,000/ton), +3.6% YTD Scrap Tungsten Rods: RMB 730/kg, +21.7% YTD Scrap Tungsten Drill Bits: RMB 700/kg, +20.7% YTD
