Since the 2026 Spring Festival, tungsten prices have been rising rapidly, showing an unprecedented upward momentum that has attracted widespread attention from the global industrial and investment communities.
Data from Chinatungsten Online shows that as of press time, 65% wolframite concentrate has reached RMB 1 million/ton, ammonium paratungstate (APT) has exceeded RMB 1.45 million/ton, and tungsten powder has surpassed RMB 2,300/kg. Tungsten prices have increased by over 110% since the start of 2026 and about 600% since 2025.
This sharp price surge is mainly due to tight tungsten ore supply and the reassessment of its strategic value, which has formed a seller's market in the tungsten industry. Suppliers now hold strong pricing power, further fueling the upward trend of prices.
All segments of the industrial chain are affected by cost transmission and financial pressure. Some small and medium-sized enterprises (SMEs), facing mounting operational difficulties, have had to reduce purchases or even suspend order taking to ease cash flow burdens.
