Tungsten Prices Rises Again - May 28, 2025

Analysis of Latest Tungsten Market from Chinatungsten Online

After a week of correction, tungsten prices have risen again. The positive factors mainly come from: 

(1) Tight supply of tungsten ore resources provides a strong bottom line for the market; (2) The rigid demand for tungsten in high value-added fields such as aerospace, electronics, and precision manufacturing is maintained, and these fields have a strong ability to bear the cost of raw materials; (3) The current geopolitical complexity stimulates the increase in demand in special fields such as military industry; (4) The international tungsten price continues to rise in resonance; (5) After the price of tungsten raw materials hit a high point, there was no large-scale capital withdrawal and sell-off in the short term, which reflects that the market confidence in stabilizing the market is still strong.

It is worth noting that the rigid demand part of the market has limited support. The consumer end of tungsten products has been effectively suppressed by the high cost of raw materials, which limits the room for further market growth. Industry professionals believe that the supply and demand game and wait-and-see sentiment within the tungsten market have not yet ended. On the one hand, the sustainability of the capital chain on the raw material side is assessed, and on the other hand, the demand side will have to accept higher raw material prices after the inventory is gradually consumed. This tug-of-war state may last for about 1-3 months. The trend of tungsten prices in this cycle is still uncertain, but the industry generally believes that it is a certainty that prices will not return to the low level in March.

As of press time, the price of 65% wolframite concentrate is RMB 167,000/ton, and resource scarcity continues to support the market focus; the price of ammonium paratungstate (APT) is RMB 246,000/ton, mainly supported by cost, supplemented by international market support; the price of tungsten powder is RMB 362/kg, and the price of tungsten carbide powder is RMB 357/kg. The downstream terminal has insufficient capacity to undertake, and alloy companies have increased plans to reduce and stop production after digesting inventory; the price of 70 tungsten iron is RMB 248,000/ton, and the market supply and demand are proceeding step by step, waiting to see the status of tungsten raw materials.

As of May 23, the price of APT in Europe is USD 400-430/ton, which has risen by 21%; the price of European tungsten iron is USD 48.95-49.5/kg of tungsten, which has risen by 12%.

Prices of Tungsten Products on May 28, 2025

Picture of Tungsten Carbide Sealing Rings

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