Tungsten Powder Price Stable, Cobalt Powder Price Drops - August 18, 2026

Analysis of Latest Tungsten Market from Chinatungsten Online

Tungsten prices have traded sideways for nearly a month; the upside is constrained by sluggish downstream purchasing and poor profit transmission, while the downside is cushioned by miners' reluctance to sell and cost support. With neither supply nor demand sides yielding ground, spot market activity remains subdued. 

For market participants, closely monitoring demand shifts and actual order volumes, while managing inventory flexibly, is currently more pragmatic than blindly betting on price movements.

The tungsten concentrate market remains stable. Holders show little willingness to sell at low prices, and while some quotes have edged slightly higher, actual transactions remain limited. The price floor for tungsten concentrate (≥55% WO3) currently holds at RMB 410,000/standard ton.

The ammonium paratungstate (APT) market remains in a tug-of-war between cost support and weak demand. Operating rates at smelters and trading activity are low, with prices hovering in a stalemate around RMB 600,000/ton; market attention is focused on the new long-term contract procurement prices from major tungsten enterprises.

In the tungsten powder market, a "buy-as-needed" strategy prevails. While firm pricing at the mining level bolsters the market's resolve to maintain prices, lackluster buying interest curbs upward momentum. It remains to be seen how demand will materialize during the traditional "Golden September, Silver October" peak season; consequently, both buyers and sellers are largely adopting a cautious, wait-and-see approach.

The cobalt market lacks demand-side momentum, as downstream battery and alloy enterprises show little enthusiasm for consuming raw materials. Cobalt powder prices have continued a slow decline, dropping approximately 24% over the past four-plus months, and currently stand at around RMB 440,000/ton.

Liquidity in the tungsten scrap market remains tight, primarily due to a standoff between buyers and sellers over price expectations. The market is caught in limbo with a wait-and-see atmosphere prevailing, limiting both transaction volumes and price fluctuations.

Prices of Tungsten Products on August 18, 2026

Tungsten Price Trend from January to August 2026

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