Tungsten Prices Temporarily Stable - June 9, 2025

Analysis of Latest Tungsten Market from Chinatungsten Online

Tungsten prices remained stable on Monday, and the upstream and downstream of the industrial chain were still in a game. 

The supply side was constrained by mining indicators, environmental protection inspections and reluctance to sell; the demand side was suppressed by economic fluctuations, geopolitical risks and policy regulation, and the market was cautious in buying and selling, and the "price but no market" state continued.

The price of 65% black tungsten concentrate is RMB 173,000/ton. Miners are still reluctant to sell it, cashing out a small amount, making it difficult to find market resources. Combined with the downstream passive on demand, the overall market shipment is slow.

The price of ammonium paratungstate (APT) is RMB 253,000/ton. The market is stable under the influence of raw material costs, but the consumer side is insufficient support, and the market is fewer effective orders. It is difficult to alleviate the cost inversion pressure of smelting companies. Let’s wait and see the order price of tungsten companies.

The price of tungsten powder is RMB 378/kg, and the price of tungsten carbide powder is RMB 373/kg. The alloy end has insufficient capacity to bear high prices. Although the price increase of raw material costs is frequently issued, the implementation of actual new orders is limited, and the manufacturer is cautious in inventory management.

The price of 70 ferrotungsten is RMB 256,000/ton. The strong support on the cost side is still the main tone, while the downstream maintains on-demand delivery, and the atmosphere of cautious trade is obvious.

The price of waste tungsten is consolidated sideways. Like the supply and demand relationship in the raw material market, there has been no major improvement. The high market resource prices coexist with the accumulated inventory pressure. Downstream terminals give priority to digesting inventory, and the market circulation in the prudent game cycle is relatively small.

On June 5, the leaders of China and the United States spoke on the phone to confirm the content of the Geneva agreement and agreed to continue to implement the Geneva agreement. The two sides agreed to increase economic and trade consultations and exchanges. It can be foreseen that my country's dual-purpose materials such as tungsten, molybdenum, rare earths, etc. in the future may not be stricter than the current foreign trade practices. On the 7th, a spokesperson for the Chinese Foreign Ministry announced that He Lifeng, a member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, will visit the UK from June 8 to 13th, and will hold the second economic and trade consultation with US Treasury Secretary Becente, Commerce Minister Lutnik and Trade Representative Greer in London on the 9th. Chinese experts said in an interview on the 8th that the consultation was directly promoted by the call between the heads of state of China and the United States a few days ago, indicating that both sides hope to find solutions to their respective concerns and problems such as rare earth export controls in their relationship and extreme suppression measures against China through continuous dialogue and in-depth consultations, and strive for a win-win result. High-level leaders of China and the United States have continuously contacted and talked, releasing a stable and positive domestic and international political and economic environment for the production and sales of dual-purpose products such as tungsten, molybdenum and rare earths.

Xiamen Tungsten Industry will announce the long-order purchase price in early June recently, and its price may play a role as a market vane.

Chinatungsten Online Analysis believes that after the current sharp rise in the tungsten product market, all parties in the tungsten product market are at a node of rationally and objectively analyzing market risks. Prices fluctuate slightly in the short term. Stable operation is most in line with the long-term interests of all parties in the market and existing cooperation mechanisms, which is conducive to the medium- and short-term decisions of all entities in the industrial chain, and is conducive to the healthy, stable and long-term development of the industrial chain.

Prices of Tungsten Products on June 9, 2025

Tungsten Price Trend from January to June 9, 2025