Tungsten prices continue their daily record-breaking trend. According to data from China Tungsten Online, current prices of major tungsten raw materials are more than seven times higher than at the beginning of 2025. Amid this frequent price surge, the tungsten market is characterized by high prices but low trading volume. Prices are high due to the scarcity of raw materials, while transactions are scarce due to high costs.
For holders, watching the daily price increases, they fear selling too early and missing out on this "unprecedented market boom," yet they also fear missing the optimal high point if they don't sell. This psychological game of fearing to miss out on gains and fearing to be stuck with unsold inventory is particularly pronounced in the tungsten scrap market.
Meanwhile, under high cost pressures, buyers are making cautious decisions, generally replenishing their inventories in small orders based on rigid demand to avoid the capital tied up and risk exposure from large-scale stockpiling.
Currently, all links in the tungsten industry chain are experiencing tight cash flow. Market sentiment is mixed, with reluctance to sell, fear of high prices, hesitation, and a wait-and-see attitude, resulting in limited overall liquidity.
As of press time,
- 65% wolframite concentrate is priced at 1,030,000/ton, an increase of 123.9% since the beginning of the year.
- 65% scheelite concentrate is priced at RMB 102,9000/ton, up 124.2% from the beginning of the year.
- Ammonium paratungstate (APT) is priced at RMB 1,500,000/ton, up 123.9% from the beginning of the year.
- European APT is priced at USD 2,000-2,195/mtu (equivalent to RMB 1.216-1.334 million/ton), up 128.0% from the beginning of the year.
- Tungsten powder is priced at RMB 2,360/kg, up 118.5% from the beginning of the year.
- Tungsten carbide powder is priced at RMB 2,300/kg, up 121.2% from the beginning of the year.
- Cobalt powder is priced at RMB 580/kg, up 11.5% from the beginning of the year.
- 70% ferrotungsten is priced at RMB 1,400,000/ton, up 115.4% from the beginning of the year.
- European ferrotungsten is priced at USD 270-289/kg W (equivalent to RMB 1.298-1.389 million/ton), up 103.3% from the beginning of the year.
- Scrap tungsten rods are priced at RMB 1370/kg, up 128.3% from the beginning of the year.
- Scrap tungsten drill bits are priced at RMB 1370/kg, up 136.2% from the beginning of the year.
