Global Tungsten Prices Rise in Unison; Scrap Market Holds Back Sales in Anticipation of Further Gains

Latest Tungsten Market Observations

This Monday, tungsten market prices hit new highs, with the strong momentum that doubled prices in just over two months showing no signs of abating. Both Chinese and international trading markets saw synchronized upward movements. Fueled by the robust sentiment in the raw tungsten market, sellers of tungsten scrap have reduced their willingness to cash out, with a growing atmosphere of holding onto inventory in anticipation of further price increases.

According to research by specialized tungsten mining industry institutions, against a backdrop of limited supply growth, sustained rigid demand, strategic revaluation, and speculative capital involvement, industry players believe the overall strong price trend will persist. However, caution is advised regarding the risk of cyclical corrections triggered by recent steep gains. Participants are urged to maintain rational pacing amid market volatility.

The surge in tungsten prices has drawn widespread attention. On Sunday evening, Chinese state media cited data from industry-specific analytical institutions to deliver a detailed, multi-faceted report on the price surge and its implications.

As of press time:

65% black tungsten concentrate traded at ¥935,000 per metric ton, up 103.3% from the start of the year.

65% white tungsten concentrate traded at ¥934,000 per metric ton, up 103.5% from the start of the year. .

Ammonium paratungstate (APT) prices stood at 1.39 million yuan per metric ton, up 107.5% from the start of the year.

European APT prices were quoted at $2,000–2,195 per metric ton (equivalent to 1.226–1.345 million yuan per metric ton), a 128.0% increase from the beginning of the year.

Tungsten powder prices were quoted at CNY 2,210 per kilogram, up 104.6% from the beginning of the year.

Tungsten carbide powder prices were quoted at CNY 2,150 per kilogram, up 106.7% from the beginning of the year.

Cobalt powder prices were quoted at CNY 580 per kilogram, up 11.5% from the beginning of the year.

Ferrotungsten 70 was quoted at CNY 1.33 million/ton, up 104.6% from the beginning of the year.

European ferrotungsten prices were quoted at USD 270-289/kg of tungsten (equivalent to CNY 1.309-1.401 million/ton), up 103.3% from the beginning of the year.

Scrap tungsten rod prices were quoted at 1,360 yuan/kg, up 126.7% from the beginning of the year.

Scrap tungsten drill bit prices were quoted at 1,350 yuan/kg, up 132.8% from the beginning of the year.

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