Tungsten Market Update, July 7: Prices Extend Downtrend Across Concentrate, APT & Powder
2026/07/09
| Product Name | Minimum Content / Specification | China Tungsten Online Quotation | Rise and fall | Unit |
|---|---|---|---|---|
| Wolframite concentrate | ≥65%WO3 | 455,000.00 | ↓15,000.00 | CNY/ton |
| Wolframite concentrate | ≥55%WO3 | 451,000.00 | ↓15,000.00 | CNY/ton |
| Scheelite concentrate | ≥65%WO3 | 454,000.00 | ↓15,000.00 | CNY/ton |
| Scheelite concentrate | ≥55%WO3 | 450,000.00 | ↓15,000.00 | CNY/ton |
| ferrotungsten | ≥70%W | 700,000.00 | ↓30,000.00 | CNY/ton |
| Ammonium Paratungstate | ≥88.5%WO3 | 660,000.00 | ↓40,000.00 | CNY/ton |
| Tungsten powder | ≥99.9%, 2-10um | 1,050.00 | ↓30.00 | CNY/kg |
| Tungsten carbide powder | ≥99.8%, 2-10um | 1,000.00 | ↓30.00 | CNY/kg |
| Tungsten Bar | ≥99.95% | 1,150.00 | ↓30.00 | CNY/kg |
| Tungsten Wire | ≥99.95%,26-35um | 38.00 | — | CNY/km |
| Cobalt Powder | ≥99.5%, 1.0-1.5um | 500,000.00 | — | CNY/ton |
| Electrolytic Nickel | ≥99.96%Ni+Co | 130,000.00 | — | CNY/ton |
| Tungsten Bar Scrap | —— | 780.00 | — | CNY/kg |
| Tungsten grinding scrap | —— | 8.50 | — | CNY/kWh |
| Scrap Tungsten Carbide Inserts | —— | 622.00 | — | CNY/kg |
On July 7, the China tungsten market continued its tungsten price downtrend, with cautious trading along the industrial chain and constrained tungsten trading liquidity. Recent price cuts by Jiangxi industry institutions and leading tungsten enterprises have reinforced weak expectations, fueling short-term bearish sentiment across all segments of the tungsten supply and demand curve.
Downstream procurement initiative remains low. While some suppliers offer price concessions, circulable resources are highly concentrated and sellers show little willingness to offload. Transactions are dominated by small trial orders, with the bargaining center tilting toward buyers—a classic case of tungsten supply tightness vs buyer bargaining.
Cost support has softened on both sides, and downstream demand remains sluggish, compounded by falling long-term contract prices. Spot negotiations face notable pressure, and the impact of lower APT on tungsten supply chain stability is being watched closely by converters.
Downstream cemented carbide demand and tool manufacturers show low restocking willingness; procurement is rigid-needs only. Weak demand and cautious sentiment reinforce each other, keeping transaction volume flat.
Prices adjusted down in line with feedstock costs. Overall trading remains light, with a wait-and-see stance prevailing.
Sellers resist low prices on holding costs and price-protection sentiment; buyers reject highs on weak fundamentals. The standoff limits deal flow.
The short-term tungsten market outlook for manufacturers remains tilted bearish—no clear positive drivers, most participants on the sidelines. Focus ahead: pace of downstream demand recovery and any shift in upstream supply policy.
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Are tungsten prices falling?
Yes. As of July 7, tungsten concentrate, APT, powder and ferrotungsten in China are all lower than their respective peaks, with 50–57% declines across key categories.
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What is the current price of tungsten concentrate?
65% black tungsten concentrate: USD 66,860 /std ton (≈ RMB 455,000); 65% white: USD 66,720 /std ton (≈ RMB 454,000).
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Why are tungsten prices falling?
Weak downstream demand, softening cost support, lower long-term contract prices, and cautious liquidity across the chain.
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How does APT price affect tungsten powder?
APT is the direct feedstock for ammonium paratungstate-to-powder conversion; softer APT undercuts powder cost support, visible in current USD 154.3/kg tungsten powder quotes.
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Is it a good time to buy tungsten?
For rigid-demand restocking, current levels are off 50%+ from peaks; however, thin liquidity and bearish sentiment suggest further downside risk near term—most buyers are waiting.
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Which industries are reducing tungsten procurement?
Cemented carbide and cutting tool segments are the most cautious; rigid demand only, no speculative restocking.
