Analysis of Latest Tungsten Market from Chinatungsten Online
The easing of the Sino-US tariff game has opened a 90-day window for foreign trade rush shipments. However, based on the special strategic attributes of tungsten products and the control requirements of dual-use items, it is expected that the intention to inquire and stock up will increase during this period, but the actual executable export orders are limited.
Tungsten prices continue to hit new historical highs, and the current round of tungsten ore price increase has been nearly 16%.
Domestic market
The price of 65% black tungsten concentrate is RMB 162,000/ton. With tight supply and market sentiment, the market remains strong and the transaction volume is small.
The price of ammonium paratungstate (APT) is RMB 238,000/ton. The game between buyers and sellers has intensified, the spot price difference has widened, and there are not many effective trading activities in the market.
The price of tungsten powder is RMB 348/kg, and the price of tungsten carbide powder is RMB 343/kg. Driven by cost, demand is constrained, the market is cautious, and it is difficult to follow up on the alloy side. Although it follows the rise, it is also worried that the bow will be easy to break.
The price of 70 ferrotungsten is RMB 246,000/ton. The cost is firm, the supply is tight, the rigid demand is maintained, and the market is bullish.
The price of scrap tungsten has been strengthened. The main positive factors are transmitted by the raw material market. The actual consumer enthusiasm is limited, and the liquidity is slow in the near future.
International market
Since the export control of tungsten-related items was increased in February, the tungsten supply gap outside China has widened, market concerns have heated up, and the demand for key mineral reserves has increased in the current world geopolitical game environment. The international tungsten price has been rising steadily. As of May 14, 2025, the price of European tungsten concentrate has risen by nearly 20% to USD 310-320/dry metric ton; the price of European APT has risen by more than 17% to USD 390-400/ton; the price of European ferrotungsten has risen by 11.5% to USD 48-48/kg W.
Prices of Tungsten Products on May 15, 2025
Tungsten Price Trend Chart from January to May 15, 2025
