Tungsten prices remained firm this week, supported by tight raw material supply and reluctance from holders to sell and maintain prices. Yesterday, a tungsten company and an industry organization in Jiangxi Province raised their raw material prices, further boosting bullish sentiment in the market.
According to Chinatungsten Online, tungsten concentrate prices have reached a high of RMB 670,000/ton, ammonium paratungstate (APT) prices are aiming for the RMB 1 million/ton mark, tungsten powder and tungsten carbide powder have both broken through the RMB 1.6 million/ton mark.
From the supply side, tungsten mining trade outside of permitted quotas is subject to strict control under tax invoice policies, exacerbating the tight market supply situation. In addition, the first Critical Minerals Ministerial, hosted by the United States and attended by more than 50 countries, has attracted widespread attention. This conference is seen as an attempt by the United States to weaken China’s dominant position in the critical mineral sector through measures such as coordinating investment with allies, setting price mechanisms, and diversifying sources. Chinatungsten Online believes that the Western camp’s attempt to establish a non-Chinese supply chain and challenge China’s absolute advantage in processing is unlikely to succeed in the short term. However, the strategic upgrades by the US and its allies in key mineral sectors and their intention to reshape the global market landscape will undoubtedly amplify the issue of global supply chain security and drive countries to reassess the value of strategic metal resources such as tungsten, molybdenum, and rare earths.
With the approach of the Spring Festival holiday, upstream and downstream production and processing enterprises in the tungsten industry chain will gradually enter holiday mode, and logistics capacity will also weaken due to the holiday, so the market trading atmosphere is expected to become increasingly sluggish.
As of press time,
◦ 65% wolframite concentrate is priced at RMB 675,000/ton, up 46.7% from the beginning of the year.
◦ 65% scheelite concentrate is priced at RMB 674,000/ ton, up 46.8% from the beginning of the year. ◦ Ammonium paratungstate (APT) is priced at RMB 990,000/ton, up 47.8% from the beginning of the year.
◦ European APT is priced at USD 1100-1398/mtu (equivalent to RMB 676,000-859,000/ton), up 35.8% from the beginning of the year.
◦ Tungsten powder is priced at RMB 1650/kg, up 52.8% from the beginning of the year.
◦ Tungsten carbide powder is priced at RMB 1600/kg, up 53.9% 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 920,000/ton, up 41.5% from the beginning of the year.
◦ European ferrotungsten is priced at USD 172-185/kg W (equivalent to RMB 836,000-899,000/ton), up 29.8% from the beginning of the year.
◦ Scrap tungsten rods are priced at RMB 860/kg, up 43.3% from the beginning of the year.
◦ Scrap tungsten drill bits are priced at RMB 810/kg, up 39.7% from the beginning of the year.
Post time: Feb-06-2026