Tungsten Prices Soar to the Skies - July 23, 2025

Analysis of Latest Tungsten Market from Chinatungsten Online 

The price of tungsten market continues to rise, mainly due to the current situation of supply contraction, the expected growth of demand and the impact of policy-based strategic regulation. 

However, the continued high price of tungsten has significantly suppressed the willingness of downstream purchases. The current market consumption power is insufficient. The rapid increase in prices is easy to increase the risk of bubbles. The industry needs to be vigilant about changes in market sentiment.

The Latest Quotation of Tungsten Products:

65% black tungsten concentrate is quoted at RMB 185,000/ton, up 29.4% from the beginning of the year.

65% scheelite concentrate is quoted at RMB 184,000/ton, up 29.6% from the beginning of the year.

Ammonium paratungstate is quoted at RMB 272,000/ton, up 28.9% from the beginning of the year.

Tungsten powder is quoted at RMB 405/kg, up 28.2% from the beginning of the year.

Tungsten carbide powder is quoted at RMB 395/kg, up 27.0% from the beginning of the year.

70 ferrotungsten is quoted at RMB 273,000/ton, up 27.0% from the beginning of the year.

Waste tungsten rods are quoted at RMB 315/kg, up 43.2% from the beginning of the year.

Supply Side: China, as the leading supplier of tungsten in the world, accounts for 82% of the market share, but faces declining ore grades and strict environmental supervision and export controls. In addition, the general reluctance of tungsten ore and tungsten waste holders to sell in anticipation of price increases has led to a significant tightening of market circulation supply, pushing up prices.

Demand Side: Due to its irreplaceable nature in defense, military, aerospace, and electronic information, tungsten has a clear long-term demand growth prospect; the implementation of large-scale infrastructure projects such as the hydropower project in the lower reaches of the Yarlung Zangbo River has further increased the demand for tungsten products such as cemented carbide. However, the current rapid rise in raw material prices has compressed the profit margins of mid- and downstream companies, and the overall consumption momentum of the market has weakened.

Policy Side: China's control of mining indicators for advantageous mineral resources and export control measures for dual-use items have increased the supply gap in the tungsten industry chain, while widening the price gap between domestic and foreign tungsten raw materials, further supporting the market's bullish sentiment. However, attention should be paid to the impact of overseas alternative resource supplements.

Prices of Tungsten Products on July 23, 2025

Tungsten Price Trend from January to July 23, 2025

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