Tungsten Market Cools Off This Week - May 23, 2025

Analysis of Latest Tungsten Market from Chinatungsten Online

This week, tungsten prices have shown a slow decline from high levels, with complex market sentiment and obvious entanglement among participants. 

On the one hand, the tight supply of tungsten mines, coupled with the continued speculation on the concept of strategic resources, maintains the market's long-term optimistic expectations for tungsten prices. But on the other hand, insufficient follow-up on the consumer side demand, and the gradual increase in profit-taking by holders, have led to insufficient confidence in the market to continue to push up prices, and the market has entered a cyclical correction phase during the week. Overall, under the uncertainty of market supply and demand and the macro environment, the game pattern of the tungsten industry chain continues to deepen, the transmission efficiency of upstream and downstream is low, and the bargaining space for buying and selling has loosened after the price hits a high, but the downward slope is slow.

The price of 65% black tungsten concentrate was RMB 166,000/standard ton, down 1.2% from the previous week, but still maintained a 16.1% increase from the beginning of the year. Holders have a strong desire to stabilize the market. Although some profit-taking has been released, there is no obvious selling pressure for the time being.

The price of ammonium paratungstate (APT) was RMB 244,000/ton, down 1.6% from the previous week, but still 15.6% higher than the beginning of the year. The cost pressure is high, the export is difficult, the market trading is not active enough, and the domestic quotation refers to the long order of tungsten enterprises. Since the implementation of domestic export control measures, the price of APT in Europe has risen by 21% to USD 400-430/ton, and the maximum price difference with the domestic price is about 11%.

The price of tungsten powder was RMB 360/kg, up 0.56% from the previous week, and the maximum increase this year was 15.4%. Cost factors still dominate, and the market remains high and sideways.

The price of tungsten carbide powder was RMB 355/kg, up 0.57% from the previous week, and the maximum increase this year was 15.6%. The market is facing more significant supply and demand mismatch pressure, the buyer and seller negotiations are deadlocked, and the number of new orders is very small.

The price of 70 ferrotungsten is RMB 248,000/ton, up 15.4% year-on-year. There is no significant update on supply and demand information, and the market is temporarily stable at a high level. The price of European ferrotungsten maintains an upward trend, rising 11% to USD 48.7-49.1/kg tungsten since February, with a small price difference between domestic and foreign markets.

Prices of Tungsten Products on May 23, 2025

Tungsten Price Trend Chart from January to May 23, 2025

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