Views: 0 Author: Site Editor Publish Time: 2026-01-05 Origin: Site
In 2026, the global tungsten market maintains a tight supply-demand pattern, with prices trending at a high level as the new normal.
Supply is rigidly constrained: China, accounting for over 80% of global tungsten production, tightens mining quotas and export qualifications (only 15 enterprises authorized), while declining ore grades and rising mining costs force small and medium mines to shut down. Social inventories hit a five-year low, leaving little price buffer.
Demand booms across sectors: Emerging fields like photovoltaic (tungsten wire diamond wire penetra
tion exceeding 80%), AI servers, and semiconductors drive explosive growth, while traditional demand from cemented carbide and machinery processing remains stable.
Key product prices stay elevated: 65% wolframite concentrate fluctuates around RMB 460,000-520,000/ton, APT at RMB 550,000-580,000/ton, and tungsten carbide powder around RMB 1,040/kg. Meanwhile, cobalt powder prices are supported by Congo (DRC)’s export quota system, with supply constraints underpinning the market.
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.
