Analysis of Latest Tungsten Market from Chinatungsten Online
The tungsten market got off to a strong start in the first trading week of 2026, with all tungsten products rebounding after a brief correction at the end of last year, reaching new highs.
As of press time, tungsten concentrate prices exceeded RMB 480,000/ton, ammonium paratungstate prices rose to RMB 710,000/ton, and tungsten powder prices reached RMB 1.15 million/ton!
In the tungsten concentrate market, supply constraints caused by declining ore grades, total mining volume controls, and sellers' reluctance to sell, coupled with the demand for key strategic resources driven by international geopolitical risks, continued to support the strong tungsten ore market.
65% black tungsten concentrate was priced at RMB 485,000/ton, up 5.4% week-on-week.
65% white tungsten concentrate was priced at RMB 484,000/ton, up 5.5% week-on-week.
In the ammonium paratungstate (APT) market, based on increasing marginal costs and upward price trends caused by international supply chain disruptions, the domestic APT price broke through the 700,000/ton mark. High prices resulted in limited market transactions.
Domestic APT was priced at RMB 710,000/ton, a 6.0% increase week-on-week.
European APT was priced at USD 900-945/mtu (equivalent to RMB 557,000-585,000/ton).
In the tungsten powder market, the upward momentum of raw material prices amplified as it was passed on to the powder end. Downstream customers with relatively stable demand were forced to passively accept costs and adjust product prices accordingly. Companies relying on low-price competition and lacking product quality or technological distinctiveness were forced to exit the market due to the inability to absorb the exponentially increased tungsten and cobalt costs.
Tungsten powder was priced at RMB 1130/kg, a 6.5% increase week-on-week.
Tungsten carbide powder was priced at RMB 1090/kg, a 6.7% increase week-on-week.
In the cobalt market, due to export quota controls and mining royalties in the Democratic Republic of Congo, coupled with delays in domestic deliveries and the recent upward trend in gold, silver, tungsten, and molybdenum sectors, the market experienced tight supply and rising prices.
Cobalt powder was priced at RMB 570/kg, up 10.7% week-on-week.
In the ferrotungsten market, supported by strong upstream costs, manufacturers raised their prices accordingly. Downstream enterprises, such as steel mills, traded cautiously, mainly stocking up as needed.
70% ferrotungsten was priced at RMB 670,000/ton, up 3.1% week-on-week.
European ferrotungsten was priced at USD 133-142/kg W (equivalent to RMB 651,000-695,000/ton).
In the tungsten scrap market, influenced by the strong raw material prices, holders were more inclined to hold onto their stock in anticipation of further price increases, while buyers were more cautious in accepting purchases at high prices, resulting in low market activity and narrow price fluctuations.
Scrap tungsten rods were priced at RMB 660/kg, up 10.0% week-on-week.
Scrap tungsten drill bits were priced at RMB 650/kg, up 12.1% week-on-week.
Prices of Tungsten Products on January. 9, 2026
Tungsten Price Trend from January 2025 to January 2026
