Tungsten Prices Soar Again!

Analysis of Latest Tungsten Market from Chinatungsten Online

Tungsten prices continue to rise, mainly driven by the significant increase in quotations from two major tungsten companies in Jiangxi and Fujian. 

The supply and demand of the tungsten market is still in a stalemate, the raw material side has a strong willingness to support prices, the demand side is not active enough to purchase, the intermediate smelters and traders have increased risk aversion, and continue to wait and see the quotations of industry institutions and companies in Ganzhou, the "World Tungsten Capital".

According to Chinatungsten Online, the national standard first-level black tungsten concentrate of a tungsten company in Jiangxi has a guidance price of RMB 152,000/ton in the first half of May 2025, an increase of RMB 6,000/ton compared with the quotation in the second half of April, an increase of 4.11%.

The long-term purchase price of ammonium paratungstate of a tungsten company in Fujian in the first half of May 2025 is RMB 219,000/ton, an increase of RMB 6,000/ton compared with the quotation in the second half of April, an increase of 2.82%.

In the tungsten concentrate market, the value expectations of strategic resources by holders have increased, and there is a strong sentiment of reluctance to sell and support the market. The price of 65% black tungsten concentrate is RMB 152,000/ton, but the downstream demand signal is relatively weak at present, and the actual liquidity of the market is limited.

In the ammonium paratungstate (APT) market, policy restrictions have made it difficult to fulfill overseas orders, and domestic effective demand has not seen a significant improvement. Smelters are facing the dual dilemma of high raw material costs and weak demand. Product prices are stuck at around RMB 222,000/ton, and trading volume is sluggish.

In the tungsten powder market, the shortage of raw materials has given strong support to the price of tungsten products, but the negative feedback on the demand side remains, and the market trading initiative is insufficient. The price of tungsten powder is RMB 332/kg, and the price of tungsten carbide powder is RMB 327/kg.

In the ferrotungsten market, the sentiment of the industry to explore highs is heating up. On the one hand, it is driven by the rising cost of raw materials. On the other hand, due to the resonance of the strong international market, the price of 70 ferrotungsten has reached RMB 230,000/ton. Downstream enterprises have limited acceptance of high prices, and most transactions are based on rigid demand.

In the scrap tungsten market, the quotation is relatively strong, but the liquidity is general. Affected by the current high price of tungsten raw materials, the atmosphere of shipment and replenishment is cautious, the market activity is insufficient, and attention is paid to the changes in the balance of supply and demand.

Prices of Tungsten Products on May 07, 2025

Picture of Tungsten Flux

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