Cheap Tungsten, Costly Cobalt

Analysis of latest tungsten market from Chinatungsten Online 

Tungsten prices continued to weaken, with large tungsten enterprises again quoting low prices in long-term contracts, dampening market confidence. The current supply-demand mismatch in the tungsten market, coupled with widespread bearish sentiment among purchasers, has led to sluggish transaction performance and insufficient market vitality.

Tungsten enterprises quoted long-term contract prices for raw materials at 138,000 yuan per ton for 55% wolframite concentrate, 137,000 yuan per ton for 55% scheelite concentrate, and ammonium paratungstate (APT) in the range of 207,000-207,500 yuan per ton, reflecting continued pricing pressures.

The cobalt market saw heated speculative activity with cobalt powder prices breaking through the 200 yuan/kg threshold, primarily driven by supply chain shortage concerns. Market quotations remain disorderly, exhibiting price-discovery mechanisms lacking substantial transaction support.

Prices of tungsten products on March 11, 2025

Picture of tungsten sheet