Analysis of Latest Tungsten Market from Chinatungsten Online
In May 2026, China’s tungsten market dropped sharply. Main raw material prices tumbled over 40% monthly and about 60% from March’s historic peak, returning to late 2025 and early 2026 levels.
Market speculation eased, and prices bottomed out with a mild rebound. Downstream inquiries rose, while tungsten concentrate and APT saw tentative price hikes, lifting overall market confidence. The upturn is driven mainly by improved supply sentiment, without solid downstream demand. The market stays unstable, and participants expect steady prices to lower risks and boost real demand.
As of press time:
• 65% wolframite concentrate: USD 58,800/ton, -60.0% from peak, -8.7% year-to-date
• 65% scheelite concentrate: USD 58,660/ton, -60.1% from peak, -8.7% year-to-date
• Ammonium paratungstate (APT): USD 93,800/ton, -55.9% from peak, flat year-to-date
• European APT: USD 3,000-3,140/mtu (≈USD 251,720-262,160/ton), -2.2% from peak, +233.7% year-to-date
• Tungsten powder: USD 140/kg, -58.3% from peak, -7.4% year-to-date
• Tungsten carbide powder: USD 133/kg, -59.4% from peak, -8.7% year-to-date
• Cobalt powder: USD 79.1/kg, -2.6% from peak, +8.7% year-to-date
• 70% ferrotungsten: USD 98,000/ton, -50.7% from peak, +7.7% year-to-date
• European ferrotungsten: USD 230-250/kg W (≈USD 152,600-165,900/ton), -26.2% from peak, +74.6% year-to-date
• Scrap tungsten carbide rods: USD 95.2/kg, -50.4% from peak, +13.3% year-to-date
• Scrap tungsten carbide drill bits: USD 91/kg, -54.0% from peak, +8.6% year-to-date
Post time: May-29-2026