Views: 0 Author: Site Editor Publish Time: 2026-01-12 Origin: Site
Tungsten prices maintained an upward trend on Monday, driven by a supply-constrained model, combined with the price hike of long-term contracts by major producers, keeping the market predominantly bullish.
Objectively, upstream tungsten mining is under multiple pressures such as declining ore grades, environmental and safety inspections, crackdowns on illegal activities, and output control, resulting in tight raw material supply that strongly supports prices. Subjectively, amid the complex international political and economic environment, market participants hold optimistic expectations for tungsten's long-term value as a strategic resource and safe-haven asset, leading to obvious reluctance to sell among holders.
On the demand side, downstream enterprises show differentiated cost absorption capacity: essential purchases remain stable, while non-essential orders drop sharply, leading to cautious sentiment and suppressed transaction volume.
As of press time, key tungsten products have seen substantial growth compared to the start of
2025: 65% wolframite concentrate (up 244.8% to RMB 493,000/ton), 65% scheelite concentrate (up 246.5% to RMB 492,000/ton),
ammonium paratungstate (APT, up 241.2% to RMB 720,000/ton),
tungsten powder (up 267.1% to RMB 1,160/kg),
tungsten carbide powder (up 260.1% to RMB 1,120/kg),
70% ferrotungsten (up 216.3% to RMB 680,000/ton),
scrap tungsten rods (up 209.1% to RMB 660/kg), and scrap tungsten drill bits (up 193.9% to RMB 650/kg).
European APT and ferrotungsten also surged by 193.5% and 212.5% respectively from the start of 2025.
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.
