This week, tungsten prices generally declined, with sluggish transactions and a supply-demand stalemate. Previous sustained price increases led to concentrated profit-taking by suppliers; some holders sold at lower prices, causing divergences among sellers. Meanwhile, buyers’ purchasing willingness shrank sharply amid the price drop, with a dominant wait-and-see attitude shifting bargaining power to the demand side.
The tungsten market is currently volatile, torn between long-term logic and short-term sentiment. In the medium to long term, amid tense geopolitics and no significant mine production growth, core fundamentals—tight global supply-demand and strengthened strategic resource attributes of tungsten—remain unchanged. In the short term, however, panic selling and fund recovery pressure have disrupted pricing, leading to sharp differences between buyers and sellers and wide price fluctuations. Some participants rush to reduce inventory, while others resist low-price sales for long-term value, worsening price signal confusion. Poor information transmission and widespread wait-and-see sentiment have also tightened market liquidity, increasing decision-making difficulty for participants. Short-term tungsten prices are expected to stay weak, pending demand release or supply tightening signals.
As of press time:
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65% wolframite concentrate: RMB 860,000/standard ton, down 4.4% week-on-week, up 87.0% year-to-date
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65% scheelite concentrate: RMB 859,000/standard ton, down 4.5% week-on-week, up 87.2% year-to-date
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Ammonium paratungstate (APT): RMB 1,340,000/ton, down 3.6% week-on-week, up 100.00% year-to-date
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European APT: USD 2,800-3,289/mtu (≈ RMB 1.694-1.99 million/ton), up 0.2% week-on-week, up 230.9% year-to-date
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Tungsten powder: RMB 2,130/kg, down 4.1% week-on-week, up 97.2% year-to-date
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Tungsten carbide powder: RMB 2060/kg, down 4.6% week-on-week, up 98.1% year-on-year
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Cobalt powder: RMB 575/kg, unchanged week-on-week, up 10.6% year-on-year
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70% ferrotungsten: RMB 1,240,000/ton, down 3.1% week-on-week, up 90.8% year-on-year
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European ferrotungsten: USD 290-305/kg W (≈ RMB 1.388-1.459 million/ton), down 4.8% week-on-week, up 116.4% year-on-year
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Scrap tungsten rods: RMB 860/kg, down 5.5% week-on-week, up 43.3% year-on-year
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Scrap tungsten drill bits: RMB 830/kg, down 5.7% week-on-week, up 43.1% year-on-year
Post time: Apr-24-2026