Views: 0 Author: Site Editor Publish Time: 2026-01-28 Origin: Site
The tungsten market is currently in a chaotic and sensitive stage, with disorderly pricing by holders and traders and a widened mainstream price spread.
This week’s tungsten price increase is driven partly by major tungsten producers’ hikes in long-term contract prices and more significantly by market hoarding and speculation.
Due to tight resource supply and strengthened strategic attributes, holders are reluctant to sell at low prices, while some traders push up quotes. As the Spring Festival approaches, downstream users adopt a wait-and-see attitude, leading to sluggish spot trading which is mainly focused on rigid demand and long-term contract fulfillment.
As of press time, all major tungsten products have seen notable year-to-date price increases:
65% wolframite concentrate and scheelite concentrate rose by 23.9% and 24.0% respectively;
ammonium paratungstate (APT) increased by 26.1% (European APT up 30.7%);
tungsten powder and tungsten carbide powder both rose by nearly 30%;
scrap tungsten rods and drill bits surged by over 31%; 70% ferrotungsten went up by 20% (European ferrotungsten up 8.4%);
and cobalt powder increased by 11.5%.
Rising Hard Alloy Costs Create Pressure for the Drilling Tools Industry
As tungsten carbide powder prices continue climbing, the cost of producing hard alloys is rising in parallel.
Tungsten carbide is one of the core materials used in the drilling tools industry, and cost increases directly affect the following products:
DTH drill bits
Button bits
Chisel bits
Cross bits
Threaded bits
PDC products that include a hard-alloy matrix
For manufacturers, high raw material prices are compressing profit margins and forcing an adjustment in product pricing structures across the industry.
QIDELI Outlook: Industry Trends in a High-Cost Era
Based on feedback across the supply chain, there is still no clear sign of price correction in the short term.
Tight resource availability, strong market sentiment, and active capital inflows together indicate that tungsten prices will remain at elevated levels.
Against this backdrop, the drilling tools industry is expected to enter:
A cost-sensitive period
A product restructuring period
A phase of rising demand for high-quality products
QIDELI will continue to closely monitor upstream raw material price changes and provide clients with timely market insights and professional guidance.
QIDELI remains committed to quality-first principles, maintaining high standards in raw material sourcing and production process control.
Even in volatile market conditions, QIDELI will ensure stable product quality and reliable supply—a promise we uphold for our global customers as we face this new industry cycle together.
