Analysis of Latest Tungsten Market from Chinatungsten Online
In January 2026, the Chinese tungsten market achieved a strong start, with mainstream tungsten product prices rising continuously, averaging about 1.5% per day. As of press time, tungsten concentrate prices exceeded RMB 600,000/ton, ammonium paratungstate (APT) prices reached RMB 900,000/ton, and tungsten powder and tungsten carbide powder prices reached 1.48 million yuan/ton and RMB 1.43 million/ton, respectively.
The reasons for the strong rise in tungsten prices include: (1) supply constraints caused by compliant mining regulations and some hoarding behavior; (2) rigid demand in high-end fields and some traditional machining fields; (3) the revaluation of tungsten's strategic value against the backdrop of global supply chain restructuring and fierce competition for key mineral resources caused by international economic and geopolitical risks; and (4) the bullish resonance caused by the significant strengthening of safe-haven assets represented by gold, silver, and copper.
It is worth noting that gold and silver prices experienced a sharp pullback last night after reaching record highs, with intraday maximum declines of 5.7% and 8.5%, respectively, before the declines quickly narrowed. This volatility reflects the uncertainty in global financial markets and also highlights risks for the tungsten industry: capital flows, driven by macroeconomic and political situations, monetary policy expectations, and changes in investor confidence, are highly sensitive and volatile. Such shifts in sentiment can amplify upward market trends in the short term, but may also exacerbate future market pullbacks.
With the Spring Festival holiday approaching, the market will gradually enter the traditional pre-holiday rhythm. Some production companies will begin suspending operations for the holiday next month, leading to a generally subdued trading atmosphere. Attention should be paid to changes in suppliers' reluctance to sell in anticipation of price increases and their profit-taking mentality.
Prices of Tungsten Products on January. 30, 2026
Tungsten Price Trend from January 2025 to January 2026
