On Monday, China's tungsten market generally trended upward. Supported by raw material costs and a recovery in sentiment across some segments of the industry chain, prices for major tungsten varieties rose slightly. However, transactions were mostly driven by immediate needs, and the market remained in an exploratory phase.

The rebound in the tungsten raw material market was somewhat tempered. Holders maintained firm prices, but downstream end-users showed limited purchasing activity, generally replenishing stocks only as needed. A wait-and-see attitude persisted, and actual transaction prices saw limited increases.

Tungsten powder prices rose due to cost increases, leading to improved market inquiries. However, large-scale transactions remained limited, and cemented carbide and its end-users remained cautious in their purchases.

The tungsten scrap market saw relatively strong speculative buying, increasing market liquidity. However, overall market expectations remained cautious, and the risk of emotional volatility should be carefully monitored.Tungsten products newly prices as followings.

• The price of 65% wolframite concentrate was RMB 430,000/ton, down 59.1% from its peak and 6.5% from the beginning of the year.
• The price of 65% scheelite concentrate was RMB 429,000/ton, down 59.1% from its peak and 6.5% in 2026.
• The price of ammonium paratungstate (APT) was RMB 680,000/ton, down 55.3% from its peak and up 1.5% in 2026.
• The price of European APT was USD 3,000-3,140/mtu (equivalent to RMB 1.798-1.882 million/ton), down 2.2% from its peak and up 233.7% in 2026.
• The price of Tungsten powder was RMB 1,040/kg, down 56.7% from its peak and 3.9% in 2026.
• The price of tungsten carbide powder was RMB 1,000/kg, down 57.3% from its peak and 3.9% in 2026.
• The price of cobalt powder was RMB 560/kg, down 3.5% from its high for the year and up 7.7% in 2026.
• The price of 70% ferrotungsten was RMB 710,000 /ton, down 50% from its peak, but up 9.2% in 2026.
• The price of European ferrotungsten was USD 230-250/kg W (equivalent to RMB 1.09-1.185 million /ton), down 26.2% from its peak, but up 74.6% in 2026.
• The price of scrap tungsten carbide rod was RMB 720 /kg, down 47.5% from its peak, but up 20.0% in 2026.
• The price of scrap tungsten carbide drill bit was RMB 670 /kg, down 51.1% from its peak, but up 15.5% in 2026.