Source: Chinatungsten Online, Compiled for ww.Chinadrillings.com
Tungsten carbide inserts serve as the core wear-resistant cutting components of tricone bits, directly determining bit service life and drilling performance. As the tungsten market stays firm on tight supply, rising raw material costs are transmitting downstream and reshaping pricing and delivery expectations for global tricone bit suppliers and drilling contractors.
The current round of tungsten price support is driven by tight tungsten ore supply toward year-end. 55% WO₃ and higher-grade tungsten concentrate is mainly quoted at RMB 370,000–380,000 per standard ton. Reduced available quotas, miners’ firm holding sentiment and market-support actions have kept ore supply tight. APT trades within RMB 540,000–560,000 per ton; tungsten powder is around RMB 820–850/kg, with tungsten carbide powder at RMB 790–820/kg. The cost floor from upstream tungsten feedstock has lifted pricing for carbide blanks and finished inserts, which are essential for TCI tricone bits.
For tricone bit manufacturers, tungsten carbide inserts account for a large share of total production cost. Sustained firm carbide prices compress manufacturing margins. Many bit producers are adopting a cautious pricing strategy: they avoid sharp, one-off price hikes to prevent eroding customer confidence, while gradually adjusting quotation terms to reflect higher material costs. Most suppliers are negotiating with drilling clients on order-by-order basis instead of launching broad price increases.
Downstream drilling buyers, including water well, mining and oilfield operators, are mainly placing rigid-demand replenishment orders rather than large advance stockpiles. Some end users still work off existing carbide and bit inventory, which slows bulk order releases. Market participants generally expect tungsten prices to stay supported in the short term, yet a full supply-demand recovery will take time. Industry insiders prefer a stable, moderate price trend rather than volatile swings, as drastic price surges or falls will disrupt long-term drilling project budgeting.
Ferrotungsten and scrap tungsten markets also reinforce the cost backdrop. 70% ferrotungsten is quoted at RMB 510,000–540,000/ton, supported by raw material costs. Scrap tungsten sellers are also reluctant to release goods at low prices, while downstream carbide factories remain prudent on intake, limiting trading volume.
Looking ahead, tricone bit market will continue to track tungsten carbide price movement. Bit makers will focus on production scheduling, raw material inventory control and insert quality stability to balance cost pressure and delivery reliability. Drilling contractors are advised to lock in medium-term supply plans properly to hedge against potential raw material volatility.
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Post time: Nov-11-2026