APT Price Surpasses RMB 950,000 - February 4, 2026

Analysis of Latest Tungsten Market from Chinatungsten Online

Tungsten prices remain on an upward trend, driven primarily by tight global supply chains and expectations of increased strategic resource value. The tungsten market is characterized by tight supply and high prices, but pre-Chinese New Year financial constraints exacerbate cost pressures on downstream users, resulting in sluggish actual transactions.

In the tungsten concentrate market, stricter regulations on compliant mining have led to continued tight supply. Miners holding ore are reluctant to sell, resulting in strong bullish expectations and solid price support.

65% wolframite concentrate is priced at RMB 642,000/ton, up 39.6% from the beginning of the year.

65% scheelite concentrate is priced at RMB 641,000/ton, up 39.7% from the beginning of the year.

In the ammonium paratungstate (APT) market, prices continue to be firm, but buyers are facing pressure from both rising raw material costs and tighter funding, reducing their stockpiling capacity. Transactions are limited to small batches based on essential needs.

Domestic APT is priced at RMB 950,000/ton, up 41.8% from the beginning of the year.

European APT is priced at USD 1100-1398/mtu (equivalent to RMB 675,000-858,000/ton), up 35.8% from the beginning of the year.

In the tungsten powder market, prices have been steadily rising, but transactions are limited. A wait-and-see attitude prevails before the Spring Festival, with transactions continuing to be negotiated on a case-by-case basis.

Tungsten powder is priced at RMB 1580/kg, up 46.3% from the beginning of the year.

Tungsten carbide powder is priced at RMB 1530/kg, up 47.1% from the beginning of the year.

Cobalt powder is priced at RMB 580/kg, up 11.5% from the beginning of the year.

In the ferrotungsten market, cost drivers are significant, downstream acceptance is limited, market prices follow the upward trend, and the pace of transactions is relatively slow.

70% ferrotungsten is priced at RMB 890,000/ton, up 36.9% from the beginning of the year.

European ferrotungsten is priced at USD 168-178/kg W (equivalent to RMB 816,000-864,000/ton), up 25.8% from the beginning of the year.

In the tungsten waste and scrap market, traders' sentiment is mixed. Some are selling off inventory to recoup funds, leading to a widening of market negotiation space. Some industry players have already entered holiday mode, awaiting market trends after the holiday.

Scrap tungsten rods are priced at RMB 860/kg, up 43.3% from the beginning of the year.

Scrap tungsten drill bits are priced at RMB 810/kg, up 39.7% from the beginning of the year.

Prices of Tungsten Products on February 4, 2026

Tungsten Price Trend from January 2025 to February 2026

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