Tungsten prices maintain a strong upward trend!

Tungsten prices maintain a strong upward trend!

Looking back at 2025, China's tungsten product exports decreased by 20.71% year-on-year, reflecting the impact of

global political and economic fluctuations and dual-use item control measures. However, the export value only decreased slightly by 0.51%,

indicating an increase in the value per unit of exported tungsten products, indirectly confirming the upward trend in tungsten prices in 2025.

Tungsten prices maintain a strong upward trend, driven by three main factors:

Firstly, the tight supply and high prices in the tungsten ore market are passing on rigid costs to downstream industries;

Secondly, although downstream end-user consumption has cooled, underlying demand remains strong, prompting hard alloy a

nd tungsten product companies to raise product prices to offset some of the cost pressure;

Thirdly, the announcement of significantly increased long-term contract purchase prices by a major Jiangxi tungsten company

yesterday further boosted participant confidence.

As of the time of publication:

• 65% wolframite concentrate price: RMB 528,000/ton, up 14.8% from the beginning of the year.

• 65% scheelite concentrate price: RMB 527,000/ton, up 14.8% from the beginning of the year.

• Ammonium paratungstate (APT) price: RMB 770,000/ton, up 14.9% from the beginning of the year.

• European APT price: USD 987-1050/mtu (equivalent to RMB 608,000-647,000/ton), up 10.7% from the beginning of the year.

• Tungsten powder price: RMB 1240/kg, up 14.8% from the beginning of the year.

• Tungsten carbide powder price: RMB 1200/kg, up 15.4% from the beginning of the year.

• Cobalt powder price: RMB 580/kg, up 11.5% from the beginning of the year.

• 70% ferrotungsten price: RMB 735,000/ton, up 13.1% from the beginning of the year.

• European ferrotungsten price: USD 140-145/kg W (equivalent to RMB 683,000-707,000/ton), up 3.6% from the beginning of the year.

• Scrap tungsten rod price: RMB 730/kg, up 21.7% from the beginning of the year.

• Scrap tungsten drill bit price: RMB 700/kg, up 20.7% from the beginning of the year.