Tungsten Market Weekly Update (April 22, 2026)

Tungsten prices remain under downward pressure, and market confidence is being severely tested. While there is still sentiment supporting the market, driven by tungsten’s scarcity and strategic resource status, some suppliers have been cutting offers actively to improve cash flow. This has intensified price competition and made buyers more cautious, leading to wide price gaps across the market.

Buyers are reluctant to accept current price levels. Instead, they are holding a wait-and-see attitude or pushing for lower prices before placing orders, keeping actual transaction prices on a downward trend.

According to Chinatungsten Online, tungsten market supply is currently relatively loose, while demand remains weak and cautious. With no strong momentum to support a rebound, the market is expected to stay sluggish in the near term.

Prices as of release date:

65% Wolframite Concentrate: RMB 880,000/ton

Down 16.2% from peak, up 91.3% year-to-date
65% Scheelite Concentrate: RMB 879,000/ton

Down 16.2% from peak, up 91.5% year-to-date
Ammonium Paratungstate (APT): RMB 1,360,000/ton

Down 10.5% from peak, up 103.0% year-to-date
European APT: USD 2,800–3,289/mtu

(Equivalent to RMB 1.69–1.985 million/ton), up 230.9% year-to-date
Tungsten Powder: RMB 2,200/kg

Down 8.3% from peak, up 103.7% year-to-date
Tungsten Carbide Powder: RMB 2,140/kg

Down 8.6% from peak, up 105.8% year-to-date
Cobalt Powder: RMB 575/kg

Down 0.9% from peak, up 10.6% year-to-date
70% Ferrotungsten: RMB 1,270,000/ton

Down 10.6% from peak, up 95.4% year-to-date
European Ferrotungsten: USD 289–310/kg W

(Equivalent to RMB 1.38–1.48 million/ton), down 7.9% from peak, up 117.8% year-to-date
Tungsten Rod Scrap: RMB 880/kg

Down 35.8% from peak, up 46.8% year-to-date
Tungsten Drill Scrap: RMB 850/kg

Down 38.0% from peak, up 46.6% year-to-date

Data Source: Chinatungsten Online