APT Price Hits RMB 260,000/ton - July 16, 2025

Analysis of Latest Tungsten Market from Chinatungsten Online 

The tungsten market is rising steadily, with prices constantly hitting new highs and breaking through psychological expectations. However, at the same time, market bubble risks are also accumulating. Consumers are in a wait-and-see mood, the liquidity of the upstream and downstream of the tungsten industry chain is insufficient, and the market transactions are sluggish.

The main contradiction in the current tungsten market is that the general price increase driven by raw material costs lacks solid terminal demand to take over. The hoarding behavior in the trade link has exacerbated the tense atmosphere and price bubble in the market. The poor transmission of raw material costs to the downstream continues to squeeze the profit space of mid- and downstream enterprises, inhibiting the vitality of the overall industrial chain, especially for small and medium-sized enterprises.

According to the China Tungsten Online survey, the industry generally believes that the ideal path for the healthy development of the market is: tungsten prices are stable at the current level, supply is appropriately loose to drive follow-up transactions, and gradually release accumulated risks to maintain the continued steady development of the industry in the future. On the contrary, if traders cash out and leave the market in a concentrated manner, their hoarding behavior may suddenly turn into large-scale profit-taking, which is easy to cause market stampede risks.

The price of 65% black tungsten concentrate has reached RMB 179,000/ton. The tungsten ore market is hot, but it is mainly reflected in the speculative circulation among traders. Because the holders are unwilling to sell and the buyers cannot accept the high prices, the actual market flow to the downstream smelting and processing links is limited.

Driven by the strong cost of raw materials, the price of ammonium paratungstate (APT) market continues to rise, hitting the RMB 260,000/ton mark, and sporadic transactions are seen around RMB 261,000/ton. The downstream is not able to bear the high price, and the market is quiet.

The price of tungsten powder is RMB 392/kg, and the price of tungsten carbide powder is RMB 382/kg. Squeezed by the rising cost of raw materials, the purchasing enthusiasm of downstream cemented carbide plants has been significantly reduced. The market is dominated by back-to-back orders, and the willingness to replenish stocks is weak.

The price of 70 ferrotungsten has risen to RMB 265,000/ton, with significant cost support, and steel mills follow up on demand.

The tungsten scrap market closely follows the raw material market and presents a trend of tight supply and rising prices, but actual transactions are sluggish due to high prices, and the market is mainly cautious and wait-and-see.

Prices of Tungsten Products on July 16, 2025

Tungsten Price Trend from January to July 16, 2025

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