Tungsten Concentrate and Tungsten Carbide Powder Price Divergence - August 21, 2026

Analysis of Latest Tungsten Market from Chinatungsten Online

A long-term procurement price set by a tungsten enterprise in Jiangxi has been finalized, aligning closely with current market realities, while trends across the upstream and downstream supply chain show a clear divergence. 

The mining end continues to maintain a stance of limited selling and price support, with firm quotations; the price of 65% tungsten concentrate has been adjusted toward RMB 420,000/ton. Midstream smelting and powder segments are experiencing pronounced involution, with bargaining power under pressure. Ammonium paratungstate (APT) prices remain stalled at the RMB 600,000/ton threshold, while tungsten carbide powder is quoted at around RMB 880/kg.

According to surveys by China Tungsten Online, powder enterprises currently possess strong self-produced APT coverage capacity, face unsaturated orders, and find external procurement relatively uneconomical. Considering actual order volumes and cost-control requirements, they tend to shorten the procurement chain and reduce external APT purchases. This is one of the factors contributing to the current divergent pattern in the tungsten market.

Judging from July import and export data, Chinese tungsten prices remain at relatively high levels year-on-year but have slightly corrected month-on-month. The trade structure of tungsten products is undergoing structural transformation. External dependence on raw materials has increased, with import increments mainly originating from tungsten ores and concentrates from Kazakhstan. On the policy front, export controls on upstream tungsten raw materials continue to tighten, particularly restrictions targeting the United States and Japan. Exports of tungsten hexafluoride, ferrotungsten, and metallic tungsten materials have increased significantly, reflecting China’s competitive advantages in the smelting and processing segments. In contrast, imports and exports of cemented carbide cutting tools have both declined month-on-month, reflecting the off-season atmosphere on the demand side.

According to data compiled by China Tungsten Online from the General Administration of Customs, in July 2026, China’s imports of tungsten products (excluding cemented carbide cutting tools and halogen tungsten lamps) reached 4,012.82 tonnes, up 69.53% year-on-year and 20.50% month-on-month; import value totaled RMB 974 million, up 224.35% year-on-year but down 3.04% month-on-month. Exports amounted to 1,222.63 tonnes, down 27.77% year-on-year but up 2.07% month-on-month; export value reached RMB 1.774 billion, up 224.19% year-on-year and 1.28% month-on-month.

Prices of Tungsten Products on August 21, 2026

Tungsten Price Trend from January to August 2026

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