Analysis of Latest Tungsten Market from Chinatungsten Online

As August begins, the tungsten market continues to experience a stalemate with prices moving sideways. Driven by the tug-of-war between supply and demand and a prevailing risk-averse sentiment, spot trading remains cautious and largely limited to immediate needs. With market liquidity tight and no significant breakthroughs expected in the short term, participants are closely monitoring price forecasts from industry bodies and long-term contract prices set by major tungsten enterprises.

In the tungsten concentrate market, the standoff between buyers and sellers persists, creating a strong wait-and-see atmosphere. Quotes for tungsten concentrate (WO3≥55%) are hovering around RMB 410,000/ton. Trading relies heavily on negotiation, with limited actual transaction volume.

In the ammonium paratungstate (APT) market, cost-side support remains relatively solid, yet weak demand constrains both transaction volume and pricing. Market participants are inclined to wait for clear signals regarding long-term contracts from major enterprises. Trading activity has slowed recently, with APT prices stalling at the RMB 600,000/ton level.

In the tungsten powder market, cautious consumption and off-season characteristics are evident. Traders and downstream customers generally maintain a wait-and-see attitude with low purchasing enthusiasm, limiting transactions to small, essential orders. Quotes for tungsten powder and tungsten carbide powder stand at approximately RMB 975/kg and RMB 925/kg, respectively.

In the cobalt powder market, prices remain under pressure due to sluggish downstream demand from sectors such as ternary batteries and cemented carbides. Since the second half of April, cobalt powder prices have fallen by approximately 20% to RMB 465/kg, with insufficient momentum for a short-term rebound.

In the ferrotungsten market, both supply and demand sides remain cautious, and the market continues to consolidate sideways with generally quiet trading activity. Prices fluctuate in line with raw material costs and overall tungsten market sentiment. The domestic price for 70% ferrotungsten is holding steady at around RMB 660,000/ton.

In the tungsten waste and scrap market, a wait-and-see sentiment also dominates the recycling sector. Buyers and sellers hold differing price expectations, resulting in a slow pace of buying and selling and limited market activity.

Internationally, tungsten supplies remain tight and prices firm, though the European summer holiday has impacted regional liquidity. European APT prices range from USD 3,000-3,279/mtu (equivalent to RMB 1.792-1.959 million/ton), marking a 241.3% increase since the beginning of the year. European ferrotungsten prices stand at USD 180-195/kg W (equivalent to RMB 850,000-921,000/ton), having retreated 42.3% from their peak.

Prices of Tungsten Products on August 03, 2026

Tungsten Price Trend from January to August 2026