In April 2026, the Chinese tungsten market experienced a significant downward adjustment. This correction primarily stemmed from a concentrated release of market sentiment and a deep technical adjustment following a roughly year-long epic price surge across the industry chain. The supply-demand relationship shifted from a seller's market to a buyer's market. A temporary easing of supply coupled with a wait-and-see attitude on the demand side led to a gradual decline in prices and a significant decrease in trading activity.

According to statistics from China Tungsten Online, from the low point in March 2025 to the high point in March 2026, the price of tungsten products increased by nearly 650% cumulatively over a period of about one year, while the price of tungsten scrap also increased by over 500%. From January to mid-March 2026 alone, tungsten prices saw a cumulative increase of nearly 130%. However, since mid-March, influenced by profit-taking pressure, the market has rapidly declined, with tungsten raw material prices falling by about 30%, and tungsten scrap prices essentially erasing most of the gains made in 2026, falling by over 50% from their peak.

Chinatungsten Online believes that based on tungsten's irreplaceable metallic properties in traditional machining and emerging applications, coupled with its strategic attributes granted by current domestic industrial policies and the international geopolitical and economic landscape, the bottom support for tungsten prices remains strong. The possibility of easily returning to the lows of 2025 is low, but it is also unlikely to see a repeat of the extreme unilateral upward trend of the past. The current tungsten market is still in a phase of pressure and bottoming out. The future bottoming level will depend on the progress of social inventory digestion, the pace and strength of downstream restocking, and changes in other fundamental and macroeconomic news.