Tungsten Prices Stable Amid Cautious Trading and Tariff Uncertainty

Analysis of latest tungsten market from Chinatungsten Online 

Tungsten prices remain generally stable, with supply-side shipments showing some release, but concessions are rare. Demand-side maintains a need-based procurement pace, with inquiries probing for price negotiations. 

Market fundamentals are in a stalemate, macroeconomic sentiment remains unclear, and the impact of U.S. tariff policies persists, leading to cautious spot transactions in the tungsten market.

65% black tungsten concentrate is priced at RMB 144,000/ton, with low-priced sources scarce and high-priced transactions progressing slowly, resulting in limited market activity.

Ammonium paratungstate (APT) is priced at RMB 214,000/ton, with poor demand-side feedback and sluggish market trading, as smelters continue to face margin pressures.

Tungsten powder is priced at RMB 318/kg, and tungsten carbide powder at RMB 313/kg, driven mainly by cost support, while demand remains lukewarm. The market consumption environment awaits improvement, with companies operating cautiously.

70% ferrotungsten is priced at RMB 219,000/ton, with manufacturers resistant to low prices. Steel mills are constrained by supply-demand dynamics and tariff risks, resulting in a mixed bullish-bearish market atmosphere and prices consolidating sideways.

Scrap tungsten prices are temporarily stable, with recyclers actively collecting, but buyers and sellers have differing price expectations, leading to cautious actual trading sentiment and a conservative outlook.

Cobalt powder is priced at RMB 268/kg, with supply-side constraints from export restrictions in major producing regions supporting temporary price stability. Recent "golden March, silver April" demand has slightly boosted the market, but the overall demand outlook for cobalt remains clouded.

Prices of tungsten products on April 15, 2025

Picture of anti-sagging tungsten rods

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