Views: 0 Author: Site Editor Publish Time: 2025-12-23 Origin: Site
Recently, tungsten prices have continued to maintain a firm upward trend, and market conditions have become increasingly complex. Overall, the current price rally is mainly driven by tight supply fundamentals, elevated raw material costs, and bullish market sentiment. However, under high-price conditions, overall market liquidity has weakened. As the year-end approaches, participants across the industry chain are operating with greater caution.
From the upstream perspective, the release of tungsten ore resources remains constrained, and the tight supply situation has not seen any substantial improvement. At the same time, some smelters have gradually entered maintenance periods, leading to temporary output reductions and placing further constraints on market supply.
In the powder segment, tungsten powder and tungsten carbide powder prices continue to show a chasing-higher trend, though actual transactions remain cautious. Alloy producers, facing persistently rising raw material costs, are mostly adopting a just-in-time purchasing strategy, with low willingness to build inventories. Meanwhile, the tungsten scrap market is characterized by conflicting sentiments of holding back supply in anticipation of higher prices and securing profits, resulting in increased divergence and a slower pace of transactions.
Overall, the tungsten market is currently in a phase where high cost support coexists with demand-side pressure. The tug-of-war between bullish and bearish forces remains evident. With the year-end approaching, market uncertainty has increased significantly, and trading activity remains sluggish.
According to data compiled by China Tungsten Online based on statistics from the General Administration of Customs:
January–November 2025 (Cumulative)
China’s tungsten product exports totaled 14,000 tons, down 18.56% year-on-year
Import value reached RMB 4.837 billion, down 1.92% year-on-year
November 2025
Export volume: 1,018.32 tons, down 39.16% year-on-year and 2.21% month-on-month
Export value: RMB 521 million, up 2.43% year-on-year and 9.18% month-on-month
The sharp decline in export volume alongside rising export value highlights a typical “lower volume, firmer prices” pattern. While high prices have constrained actual trading volumes, price levels remain strongly supported.
As of the date of publication:
Tungsten powder price stands at RMB 1,080/kg, up 241.8% compared with the beginning of the year
Tungsten carbide powder price stands at RMB 1,040/kg, up 234.4% year-to-date
The sharp rise in tungsten raw material prices has become the key driver behind rising production costs for cemented carbide.
As the core raw material for cemented carbide, the continuous increase in tungsten carbide prices has directly driven up manufacturing costs for drilling tools. The impact is particularly significant for the following products:
DTH bits
Button bits
Chisel bits and cross bits
Various threaded drill bits
Under current market conditions, the drilling tools industry is generally facing a situation where cost increases are outpacing downstream price adjustments, placing higher demands on pricing strategies, inventory management, and delivery scheduling.
As a manufacturer deeply rooted in the drilling tools industry, QIDELI closely monitors tungsten market developments and responds to cost volatility through the following measures:
Early planning and strategic sourcing of key raw materials to ensure supply stability
Continuous optimization of production processes to improve material utilization efficiency
Providing more cost-effective solutions while ensuring product performance and service life
Amid sustained high raw material prices, QIDELI will continue to uphold the principles of quality first, long-term cooperation, and transparent communication, working together with global partners to navigate market volatility.
