Price of Tungsten Products on Mar. 10 2026

Since the Spring Festival of 2026, tungsten prices have been surging almost daily. According to data from China Tungsten, as of press time, the price of tungsten concentrate has reached RMB 1 million/ton, ammonium paratungstate has exceeded RMB 1.45 million/ton, and tungsten powder has surpassed RMB 2.3 million/ton. Tungsten prices have increased by over 110% since the beginning of 2026, and by approximately 600% since the start of 2025.

This round of tungsten price surge is mainly due to the tight supply of tungsten ore and the reassessment of its strategic value, leading to a seller’s market dominating. Smelting products have seen significant price increases due to cost transmission and the combined effect of international prices. Powder metallurgy companies, constrained by rising production and operating costs, have been forced to issue price increase notices, and transactions are generally conducted on a back-to-back basis. Some small and medium-sized enterprises, facing pressure on their cash flow, have reduced their purchasing scale or even suspended order taking. The tungsten scrap market is caught between securing profits and holding onto inventory in anticipation of further price increases, resulting in fluctuating trading activity.

Overall, objective resource constraints and subjective reluctance to sell have jointly created a sustained tight supply situation in the tungsten market, providing strong support for high tungsten prices. However, at the same time, financial pressures are increasingly prominent across all segments of the tungsten industry chain, cash flow sensitivity is rising, and inventory turnover has slowed. WEIXTOOLS reminds participants to pay attention to adjustments in tungsten mining and trade policies, the actual demand absorption capacity of downstream industries, the pace of supply replenishment from the domestic waste tungsten recycling system and overseas mining projects, as well as changes in the international geopolitical and economic environment.

As of press time,
65% wolframite concentrate is priced at RMB 1,000,000/ton, up 117.4% from the beginning of the year.
65% scheelite concentrate is priced at RMB 999,000/ton, up 117.7% from the beginning of the year.
Ammonium paratungstate (APT) is priced at RMB 1,450,000/ton, up 116.4% from the beginning of the year.
European APT is priced at USD 2,000-2,195/mtu (equivalent to RMB 1.218-1.337 million/ton), up 128.0% from the beginning of the year.
Tungsten powder is priced at RMB 2300/kg, up 113.0% from the beginning of the year.
Tungsten carbide powder is priced at RMB 2240/kg, up 115.4% 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 1,380,000/ton, up 112.3% from the beginning of the year.
European ferrotungsten is priced at USD 270-289/kg W (equivalent to RMB 1.301-1.393 million/ton), up 103.3% from the beginning of the year.
Scrap tungsten rods are priced at RMB 1,370/kg, up 128.3% from the beginning of the year.
Scrap tungsten drill bits are priced at 1,370/kg, up 136.2% from the beginning of the year.