Analysis of Latest Tungsten Market from Chinatungsten Online
Tungsten prices have soared this week, with a cumulative increase of more than 16% since the second half of October. This increase deviates from market fundamentals to a certain extent. With the rapid expansion of profit margins of tungsten raw materials, the mentality of holders has become entangled, swinging between locking in profits and continuing to chase the rise. Meanwhile, downstream end-users, burdened by costs, have weakened purchasing enthusiasm. The tungsten market is flowing based on rigid demand, with limited transaction orders and an increasingly thick standoff atmosphere.
In the tungsten concentrate market, resource scarcity and strategic value expectations continue to support suppliers' confidence in raising prices, but downstream attitudes toward receiving goods tend to be cautious, and acceptance of high prices is limited.
The price of 65% wolframite concentrate was reported at RMB 314,000/ton, up 4.7% week-on-week and 119.6% higher than the beginning of the year.
The price of 65% scheelite concentrate was reported at RMB 313,000/ton, up 4.7% week-on-week and 120.4% higher than the beginning of the year.
In the ammonium paratungstate (APT) market, the tight supply and cost support pattern have not changed, merchants' external quotations are relatively confusing, the price gap has further expanded, and actual orders are limited.
The domestic APT price was reported at RMB 464,000/ton, up 5.0% week-on-week and 119.9% higher than the beginning of the year.
European APT prices were reported at USD 610-685/mtu (equivalent to RMB 384,000-432,000/ton), which was unchanged week-on-week and increased 96.2% from the beginning of the year.
In the tungsten powder market, raw material prices are difficult to lock in, demand orders are cautiously shrinking, the market's active quotation and inquiry atmosphere is not high, and transaction negotiations are temporarily biased towards a seller's market.
The price of tungsten powder was reported at RMB 725/kg, up 9.9% week-on-week and 129.4% higher than the beginning of the year.
The price of tungsten carbide powder was reported at RMB 705/kg, up 9.3% week-on-week and 126.7% higher than the beginning of the year.
The price of cobalt powder was reported at RMB 500/kg, which was unchanged week-on-week, up 194.1% from the beginning of the year.
In the ferrotungsten market, cost-driven and rigid demand follow-up, the overall market situation is in a strong cycle.
The price of 70 ferrotungsten was reported at RMB 428,000/ton, up 4.9% week-on-week and 99.1% higher than the beginning of the year.
The price of ferrotungsten in Europe was reported at USD 92-94/kg W (equivalent to RMB 459,000-468,000/ton), up 3.9% week-on-week and 111.4% higher than the beginning of the year.
In the tungsten waste and scrap market, there is a sideways wait-and-see trend. The willingness of holders to exchange for cash has increased, and the bargaining space of buyers has increased.
The price of scrap tungsten rods was reported at RMB 470/kg, up 3.3% week-on-week and 113.6% higher than the beginning of the year.
The price of scrap tungsten drill bits was reported at RMB 437/kg, up 1.6% week-on-week and 91.7% higher than the beginning of the year.
Prices of Tungsten Products on November 7, 2025
Tungsten Price Trend from January to November 7, 2025
