Tungsten Prices Have Doubled by 2026

Analysis of Latest Tungsten Market from Chinatungsten Online

Tungsten prices continued their strong upward trend this week, with the market fundamentals remaining tight on supply and cautious in transactions. The value expectation for tungsten as a strategic resource remained relatively positive amid international geopolitical instability. 

Yesterday, upward revisions in forecast prices by industry institutions in Jiangxi and long-term contract prices by major tungsten enterprises further boosted market confidence.

In the tungsten scrap market, the hesitation and price discrepancies that emerged during the week have eased to some extent as signals of firm long-term contract purchase prices from tungsten enterprises have been transmitted. However, this round of price increases, exceeding historical experience, and numerous uncertainties in the macroeconomic and political environment, make the outlook for the tungsten market highly uncertain. Currently, industry participants are still fiercely oscillating between stockpiling and cashing out.

As of press time,

65% wolframite concentrate was priced at RMB 920,000/ton, up 16.5% week-on-week and 100.0% year-on-year.

65% scheelite concentrate was priced at RMB 919,000/ton, up 16.5% week-on-week and 100.2% year-on-year.

Ammonium paratungstate (APT) was priced at RMB 1.36 million/ton, up 16.2% week-on-week and 103.0% year-on-year.

European APT was priced at USD 1890-1998/mtu (equivalent to RMB 1.155-1.221 million/ton), up 9.5% week-on-week and 111.3% year-on-year.

Tungsten powder was priced at RMB 2160/kg, up 14.9% week-on-week and 100.0% year-on-year.

Tungsten carbide powder was priced at RMB 2100/kg, up 15.4% week-on-week and 102.0% year-on-year.

Cobalt powder was priced at RMB 580/kg, unchanged week-on-week and up 11.5% year-on-year.

70% ferrotungsten was priced at RMB 1.3 million/ton, up 18.2% week-on-week and 100.0% year-on-year.

European ferrotungsten was priced at USD 220-270/kg W(equivalent to RMB 1.063-1.305 million/ton), up 15.0% week-on-week and 78.2% year-to-date.

Scrap tungsten rods were priced at RMB 1320/kg, up 26.9% week-on-week and 120.0% year-to-date.

Scrap tungsten drill bits were priced at RMB 1300/kg, up 27.5% week-on-week and 124.1% year-to-date.

Prices of Tungsten Products on March 06, 2026

Tungsten Price Trend from January 2025 to March 2026

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