Analysis of Latest Tungsten Market from Chinatungsten Online
The tungsten market saw an overall upward trend on Monday, driven by strong momentum from the raw material market, with prices rising across the industry chain. Major tungsten resource and alloy companies raised their product prices, further boosting market sentiment. However, downstream demand did not increase in tandem, resulting in weak follow-through on high-priced transactions and some price transmission difficulties. Industry insiders believe that the tungsten market will remain primarily cost-driven in the short term, but caution is advised regarding the risk of a pullback from high prices, shifts in downstream acceptance, and uncertainties in the macroeconomic environment.
The price of 65% wolframite concentrate was reported at RMB 285,000/ton, a 99.3% increase from the beginning of the year. The tungsten ore market remains strong, with traders showing little willingness to sell at lower prices and limited downstream demand for high-priced resources, leading to a slight slowdown in actual market transaction activity.
The price of ammonium paratungstate was reported at RMB 418,000/ton, a 98.1% increase from the beginning of the year. Driven by high costs and limited resources, manufacturers are increasingly willing to explore higher prices, widening the market bid-ask spread, with some prices ranging from RMB 420,000 to RMB 430,000/ton. Downstream suppliers are cautiously digesting cost pressures, resulting in a market characterized by "high prices but no demand."
European APT prices are reported at USD 610-685/mtu (RMB 384,000-431,000/ton), up 96.2% from the beginning of the year.
Tungsten powder prices are reported at RMB 630/kg, up 99.4% from the beginning of the year. Tungsten carbide powder prices are reported at RMB 615/kg, up 97.8% from the beginning of the year. While cost support is significant, transmission to the end user remains limited. Powder manufacturers are becoming more cautious in accepting new orders, and market activity is subdued.
Cobalt powder prices are reported at RMB 500/kg, up 194.1% from the beginning of the year. Supply chain issues in the cobalt market continue to drive traders to seek higher prices, but fear of price increases is gradually emerging after the rapid surge, and market trading sentiment has cooled recently.
70 ferrotungsten prices are reported at RMB 392,000/ton, up 82.3% from the beginning of the year. The market is primarily driven by increased cost support, while the consumer sector remains stable, with the market trading based on rigid demand.
European ferrotungsten prices are reported at USD 87-90.75/kg W (RMB 433,000-452,000/ton), a 102% increase from the beginning of the year.
The price of scrap tungsten bars is quoted at RMB 428/kg, a 94.5% increase from the beginning of the year. The price of scrap tungsten drill bits is quoted at RMB 415/kg, an 82% increase from the beginning of the year. While tungsten scrap market prices are rising in line with virgin material, buyer acceptance has weakened, resulting in a cautious and stagnant market trading atmosphere.
Prices of Tungsten Products on October 27, 2025
Tungsten Price Trend from January to October 27, 2025
