Market Stagnation and Rising Costs: Tungsten Price Increases Continue to Affect Downstream Industries

On Monday, the tungsten market continued its steady upward trend. Overall, the combination of tight supply and cautious downstream demand has resulted in a market characterized by high prices, stagnation, and low transaction activity.

From the supply side, tungsten resources remain tight. Both mines and intermediate suppliers show clear reluctance to sell, giving sellers a stronger position in price negotiations. Limited resources combined with high production costs have kept upstream quotations firm, creating a structurally tight supply environment.

On the demand side, downstream buyers continue to purchase based on immediate needs. With raw material prices maintaining high levels, many end users remain cautious about replenishing inventory, opting instead to purchase according to orders to mitigate inventory and price fluctuation risks.

From a macroeconomic perspective, geopolitical uncertainties continue to influence global commodity markets, though no significant short-term shifts have been observed. Overall, the tungsten market remains cautious, with intensified supply–demand competition, strong wait-and-see sentiment, and limited transaction activity.

As of publication, tungsten raw material prices are as follows:

Tungsten powder: 780 RMB/kg, up 146.8% since the beginning of the year.

Tungsten carbide powder: 750 RMB/kg, up 141.2% since the beginning of the year.

As a key raw material for cemented carbide, the sharp increase in tungsten carbide prices has directly pushed up the production cost of carbide materials. This rise in carbide cost is inevitably impacting the drilling tools industry, placing upward pressure on the prices of the following products:

DTH bits

Button bits

Chisel bits

Cross bits

Threaded bits

With costs continuing to climb significantly, drilling tool prices may see further upward adjustments in the future. QIDELI will continue to closely monitor tungsten raw material trends and adjust product strategies accordingly, ensuring the delivery of stable, high-quality drilling solutions to our customers.