Tungsten Prices Gap Widens - September 18, 2025

Analysis of Latest Tungsten Market from Chinatungsten Online

Tungsten prices are trending weakly, with market participants showing clear divergence in sentiment, which has led to wider price spreads. 

Some views hold that the support from the raw materials side remains solid, with tight supply and expectations of policy support still in place; although prices are in an adjustment phase, the overall pullback is considered rational. Others, however, are concerned that concentrated profit-taking sales could trigger a stampede risk, intensifying downward pressure on the market. Industry insiders anticipate that tungsten prices will face pressure in September and October, but in the fourth quarter, as demand rebounds and inventory buildup begins, there may be room for market recovery.

In the tungsten concentrate market, standard-grade quotes are mostly clustered around RMB 270,000-280,000/ton. Overall liquidity remains adequate, with no large-scale panic selling observed, though there are occasional low-price cash conversions. Generally speaking, mining operations are still holding firm on the value of their resources, maintaining a cautiously optimistic long-term outlook.

In the ammonium paratungstate (APT) market, mainstream prices are in the RMB 400,000-405,000/ton range. As the market is in a price decline cycle, buyers are generally cautious, with low willingness to take delivery, resulting in limited transaction volumes.

In the tungsten powder market, price centers are around RMB 610-635/kg. Cemented carbide users are maintaining a strong wait-and-see atmosphere, with procurement decisions becoming increasingly prudent, leading to continued shrinkage in powder market orders.

In the ferrotungsten market, following the easing of cost-side pressures, prices have seen a slight decline. 70% ferrotungsten is quoted around RMB 402,000/ton. Steel tendering sentiment is cautious, and market trading activity remains limited.

In the scrap tungsten market, profit-taking sales have triggered significant price volatility, with the market declining in a disorderly manner.

Prices of Tungsten Products on September 18, 2025

Tungsten Price Trend from January to September 18, 2025

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