As of January 26, 2026, tungsten products have seen a continuous and sharp price surge, hitting historical highs across the board. The price of 65% black tungsten concentrate has rocketed from 143,000 CNY per ton at the start of 2025 to 545,000-547,000 CNY per ton, with a staggering increase of over 280%. Ammonium Paratungstate (APT) has broken through 810,000 CNY per ton, surging more than 200% year-on-year. Tungsten powder, tungsten carbide, and tungsten drill bits for oil drilling have all registered over 200% growth in price. The skyrocketing is driven by tight supply, with China’s tungsten mining quotas tightened and social inventories hitting a 10-year low. Meanwhile, demand has exploded in oil drilling, military, photovoltaic and high-end manufacturing sectors. Coupled with national export controls on tungsten resources, the supply-demand imbalance has been intensified, firmly supporting the high price level of tungsten products in the short term.
Post time: Jan-26-2026