Tungsten Market Holds Steady, Awaiting Marginal Correction - September 4, 2026

Analysis of Latest Tungsten Market from Chinatungsten Online

This week, the tungsten market showed a certain downward shift, mainly reflected in slight loosening of quotations from the tungsten concentrate end and tungsten powder negotiations leaning toward the lower end of the range, while ammonium paratungstate (APT) prices remained stable due to cost-pressure inversion. The circulation of the tungsten industry chain was relatively slow.

As of press time, the prices of 55% tungsten concentrate, APT, and medium-particle tungsten powder showed support at RMB 410,000/standard ton, RMB 590,000/ton, and RMB 900,000/ton, respectively, while also facing tests. Yesterday, a mining enterprise in Yunnan negotiated the sale of 60 tons of 50% scheelite concentrate, with a transaction price of RMB 6,240/ton-degree, equivalent to RMB 405,600/standard ton.

Recent on-site visits by China Tungsten Online to tungsten enterprises in Ganzhou showed that the tight supply at the tungsten concentrate end and the sluggish demand side coexist, with market trading continuing to be deadlocked. Industry insiders believe that the large fluctuations in the first half of the year are unlikely to be repeated, and there is a general tendency to maintain a relatively stable operating environment, in order to achieve orderly transmission of resources and funds and steady enterprise operations.

On the supply side, policy and seasonal factors are superimposed, and the tight situation continues. Safety production management at mines has been continuously strengthened, and compliance requirements for tax invoices on ores and scrap materials have become stricter, narrowing the circulation space for non-compliant resources. Superimposed on this, the rainy season in some regions has affected production pace, limiting effective supply release. In addition, attention should be paid to additional constraints that may arise from heightened safety controls during the National Day holiday period. At the same time, it is necessary to continue monitoring the incremental supply caused by the development, restart, or expansion of relevant domestic and international projects.

On the demand side, restocking scale has always been constrained by end-user orders and remains cautious. However, industry insiders pointed out that during the August consolidation period, rigid procurement in the market was gradually released in an orderly manner. Although the sentiment during the week was relatively pressured, as downstream enterprise inventories are consumed and some downstream end-user enterprises appropriately restock to hedge against previous sales tax burdens, the market supply-demand margin may see some improvement. However, the specific time window and magnitude of the recovery still need further verification.

Prices of Tungsten Products on September 4, 2026

Tungsten Price Trend from January to September 2026

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