Since the 2026 Spring Festival, tungsten prices have surged daily. Data from China Tungsten Online shows that as of press time, tungsten concentrate has reached RMB 1 million/ton, ammonium paratungstate (APT) over RMB 1.45 million/ton, and tungsten powder over RMB 2.3 million/ton. Prices have risen over 110% since early 2026 and about 600% since early 2025.
The surge is mainly due to tight tungsten ore supply and strategic value reassessment, forming a seller’s market. Smelting and powder metallurgy products have risen sharply due to cost transmission; some SMEs have reduced purchases or suspended orders due to cash flow pressure. The tungsten scrap market fluctuates between profit-taking and hoarding.
Overall, resource constraints and reluctance to sell support high prices, but the industry faces prominent financial pressure. China Tungsten Online reminds participants to focus on policy adjustments, downstream demand, supply replenishment and geopolitical changes.
Key prices (as of press time):
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65% wolframite concentrate: RMB 1,000,000/ton (+117.4% YoY); 65% scheelite concentrate: RMB 999,000/ton (+117.7% YoY)
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APT: RMB 1,450,000/ton (+116.4% YoY); European APT: USD 2,000-2,195/mtu (+128.0% YoY)
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Tungsten powder: RMB 2300/kg (+113.0% YoY); Tungsten carbide powder: RMB 2240/kg (+115.4% YoY)
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70% ferrotungsten: RMB 1,380,000/ton (+112.3% YoY); European ferrotungsten: USD 270-289/kg W (+103.3% YoY)
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Scrap tungsten rods/drill bits: RMB 1,370/kg (+128.3%/+136.2% YoY); Cobalt powder: RMB 580/kg (+11.5% YoY)
Post time: Mar-10-2026