Analysis of Latest Tungsten Market from Chinatungsten Online
Since 2026, tungsten prices have risen by an average of about 1.5% per day. Recently, the surge has been even more rapid, with tungsten powder and tungsten carbide powder prices both breaking through the RMB 1.4 million/ton mark, representing a daily increase of 3.5%-4%.
There is some divergence of views within the industry as to whether the current high prices represent a temporary peak that has exhausted future expectations or a mid- to long-term revaluation of intrinsic value. Amid the ongoing one-sided bullish trend, market participants tend to believe that this round of gains has already partially preempted future expectations. However, the boundaries of this price cycle remain difficult to pinpoint, and the tug-of-war between buyers and sellers has intensified.
Therefore, despite active tungsten market quotations and high sentiment, actual transaction volume has not increased proportionally. Downstream and trading companies are concerned about the risks of buying at high prices and the potential disruption of order fulfillment due to supply shortages. In this environment, spot transactions are generally conducted on a case-by-case basis with cash settlement, and market risk aversion has significantly increased. Furthermore, some manufacturers, facing rising costs and order fulfillment pressures, are planning to bring forward their holidays.
As of press time,
65% wolframite concentrate is priced at RMB 585,000/ton, up 27.2% from the beginning of the year.
65% scheelite concentrate is priced at RMB 584,000/ton, up 27.2% from the beginning of the year.
Ammonium paratungstate (APT) is priced at RMB 870,000/ton, up 29.9% from the beginning of the year.
European APT is priced at USD 1080-1325/mtu (equivalent to RMB 664,000-815,000/ton), up 30.7% from the beginning of the year.
Tungsten powder is priced at RMB 1450/kg, up 34.3% from the beginning of the year.
Tungsten carbide powder is priced at RMB 1400/kg, up 34.6% 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 800,000/ton, up 23.1% from the beginning of the year.
European ferrotungsten is priced at USD 148-168/kg W (equivalent to RMB 720,000-817,000/ton), up 14.9% from the beginning of the year.
Scrap tungsten rods are priced at RMB 810/kg, up 35.0% from the beginning of the year.
Scrap tungsten drill bits are priced at RMB 790/kg, up 36.2% from the beginning of the year.
Prices of Tungsten Products on January. 29, 2026
Tungsten Price Trend from January 2025 to January 2026
