Tungsten Prices Rise, Cobalt Market Contradictions Intensify

Analysis of latest tungsten market from Chinatungsten Online 

At the beginning of April, tungsten prices were in a stalemate and upward exploration cycle. 

The upstream reluctance to sell and price-supporting strategy had certain results and was supported by some rigid demand in the market. However, the overall consumption pressure of downstream terminals still exists, and the market transaction rhythm is slow. Participants remain cautious and pay attention to the new round of institutional and tungsten enterprise quotations at the beginning of the month.

The price of 65% black tungsten concentrate has reached $20,000.0/ton. It is difficult for the supply side to have a significant increase in the short term. The mentality of holders is relatively strong, and the market is scarce for low-priced goods.

The price of ammonium paratungstate (APT) is reported at $335.8/ton. Cost factors dominate the seller's high sentiment. The downstream acceptance is limited. The confidence of all parties in the industrial chain is still divided. Recently, transactions are mainly on demand.

The price of tungsten powder is testing $44.2/kg, and tungsten carbide powder is stuck at $43.5/kg. The market supply and demand margin has not changed significantly. The demand side faces weak challenges in traditional fields and growth opportunities in emerging fields. Market confidence is divided and market operations are carried out.

The price of 70 ferrotungsten is trading sideways at around $30,422.5/ton. The atmosphere of the tungsten raw material and steel market is still deadlocked. The trading attitude on the market is cautious according to demand, and the market fluctuations are limited.

The upward trend of scrap tungsten prices is mainly due to the relatively strong performance of tungsten and cobalt raw material prices in recent times. Based on the expectation of incremental demand for alternatives, the market sentiment has warmed up.

The price of cobalt powder is $38.7/kg, and the contradiction between market supply and demand has escalated. There are different views on the future rise and fall. On the one hand, more than 70% of the global supply is restricted by the export ban of the Democratic Republic of the Congo, and the US military trade and mineral cooperation with it may increase the pressure on the supply chain. But on the other hand, the weak demand of traditional industries suppresses consumption in the alloy field, and the market demand side is under pressure due to the research on de-cobaltization in the new energy industry. In addition, there is uncertainty about the four-month validity of the export ban of the Democratic Republic of the Congo, but the production capacity of cobalt by-products driven by the high yield of copper mines is growing.

Prices of tungsten products on April 01, 2025

Picture of cat face tungsten wire

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