Domestic export control measures for dual-use items continue to impact tungsten product exports. From March to May, exports of ammonium paratungstate (APT) and tungsten trioxides were zero, with only 2 kilograms of other tungsten oxides & hydroxides, nes exported in April. Notably, carbides of tungsten exports showed signs of gradual recovery from April to May.

According to data compiled by Chinatungsten Online from the General Administration of Customs, in May 2025, China's imports of tungsten products (excluding cemented carbide tools and tungsten halogen lamps) reached 1,409.50 tons, marking a year-on-year increase of 41.43% compared to May 2024 and a month-on-month increase of 27.94% compared to April 2025. The import value was RMB 156 million, reflecting a year-on-year increase of 8.10% but a month-on-month decrease of 5.39%.

According to data compiled by Chinatungsten Online from the General Administration of Customs, from January to May 2025, China's imports of tungsten products (excluding cemented carbide tools and tungsten halogen lamps) reached 6,343.69 tons, a year-on-year increase of 22.29% compared to the same period in 2024. The import value was RMB 799 million, reflecting a year-on-year increase of 6.60%.

I. Analysis of China’s Rare Earth Price Trends in May 2025

According to CTIA GROUP LTD, the overall price trend of rare earth products in China during May 2025 showed an initial increase followed by a slight decline, with the end-of-month prices for most products higher than at the beginning of the month.