Cobalt Price Under Pressure and Weakening - August 04, 2026

Analysis of Latest Tungsten Market from Chinatungsten Online

Tungsten prices continue to exhibit a lackluster, sideways trend. Market participants are generally adopting a wait-and-see approach pending clear, directional news. Sellers are holding firm on quotes, while buyers are inquiring based on immediate needs and pushing for price concessions. Amidst this market standoff, both trading volume and price volatility remain constrained.

Current market positives remain centered on supply-side constraints and supportive sentiment. Controlled release of mine production capacity, declining ore grades, and rising compliance costs for environmental protection and safety are collectively limiting medium- to long-term supply elasticity. Coupled with expectations regarding resource scarcity and strategic value, market sentiment is also providing a floor for prices. However, the slow pace of inventory destocking and plans by some players to offload stock for liquidity and risk aversion are somewhat weakening supply-side support. Furthermore, new overseas mineral discoveries and supply chain restructuring plans could gradually alter the global supply landscape and total volume, thereby influencing future international tungsten price trends.

Bearish pressure stems mainly from weak demand. The atmosphere of the traditional off-season persists, and with strong risk-aversion sentiment, downstream procurement of cemented carbide, tungsten metals and alloys remains cautious. Actual trading is largely limited to restocking for essential needs. In the short term, the pressure from supply-demand imbalances will continue to dictate price trends; upward momentum awaits confirmation through a clearer recovery in demand or significant news developments. Tungsten and cobalt products newly prices as followings.

65% wolframite concentrate price: RMB 415,000/ton, down 60.5% from its peak and 9.8% since the start of the year.

65% scheelite concentrate price: RMB 414,000/ton, down 60.5% from its peak and 9.8% in 2026.

Ammonium paratungstate (APT) price: RMB 610,000/ton, down 59.9% from its peak and 9.0% in 2026.

European APT price: USD 3,000-3,279/mtu (equivalent to RMB 1.792-1.959 million/ton), up 241.3% in 2026.

Tungsten powder price: RMB 975/kg, down 59.4% from its peak and 9.7% in 2026.

Tungsten carbide powder price: RMB 925/kg, down 60.5% from its peak and 11.1% in 2026.

Cobalt powder price: RMB 460/kg, down 20.7% from its high and 11.5% in 2026.

70% ferrotungsten price: RMB 660,000/ton, down 53.5% from its peak but up 1.5% in 2026.

European ferrotungsten price: USD 180-195/kg W (equivalent to RMB 850,000-921,000/ton), down 42.3% from its peak but up 36.4% in 2026.

Scrap tungsten carbide rod price: RMB 760/kg, down 51.0% from its peak but up 11.8% in 2026.

Prices of Tungsten Products on August 04, 2026

Tungsten Price Trend from January to August 2026

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