In January 2026, the China tungsten market continued its strong upward trend, with all major tungsten products showing significant year-on-year (YoY) and month-on-month (MoM) gains. Below is a detailed breakdown of average prices for key tungsten products:
1. Tungsten Concentrates
- 65% Wolframite Concentrate: Average price RMB 514,857/ton, up 255.35% YoY and 27.29% MoM. End-of-month prices rose 30.87% from the start of the month.
- 65% Scheelite (White Tungsten) Concentrate: Average price RMB 513,524/ton, up 256.89% YoY and 27.27% MoM. End-of-month prices increased 30.94% compared to month-start.
2. Ammonium Paratungstate (APT)
- Average price: RMB 757,143/ton
- YoY increase: 255.75% | MoM increase: 26.82%
- End-of-month change: +34.33% from beginning of the month
APT, a key intermediate tungsten product, continues to see strong demand from high-tech and industrial sectors.
3. Tungsten Powders
- Tungsten Powder: Average price RMB 1,227.62/kg, up 285.70% YoY and 28.14% MoM, with end-of-month prices up 37.04%.
- Tungsten Carbide Powder: Average price RMB 1,185.24/kg, up 278.33% YoY and 28.56% MoM, end-of-month increase 37.50%.
These products remain essential for tooling, cutting, and industrial applications, driving sustained demand despite supply constraints.
4. Ferrotungsten and Tungsten Bars
- 70% Ferrotungsten (FeW70): Average price RMB 715,952/ton, up 230.19% YoY and 27.69% MoM, with end-of-month prices up 27.69%.
- Tungsten Bars: Average price RMB 1,300.00/kg, up 250.04% YoY and 29.72% MoM, end-of-month increase 38.05%.
Ferrotungsten and tungsten bars are widely used in alloy production and heavy industrial applications, contributing to ongoing market resilience.
5. Cobalt and Scrap Tungsten
- Cobalt Powder (Co): Average price RMB 569.05/kg, up 238.16% YoY and 11.06% MoM, with end-of-month prices up 11.54%.
- Scrap Tungsten Rods/Bars: Average price RMB 711.67/kg, up 221.21% YoY and 24.49% MoM, end-of-month gain 41.67%.
- Scrap Tungsten Drill Bits: Average price RMB 690.48/kg, up 200.78% YoY and 26.87% MoM, end-of-month increase 41.38%.
The strong performance of scrap tungsten reflects robust recycling demand and the increasing strategic value of tungsten-based products.
