New Year, New Highs: Tungsten Carbide Pricing on Jan 07, 2026

2026 is a pivotal year for the tungsten market amid uncertainties, with two early "black swan" events – the Venezuelan geopolitical crisis and China's tightened dual-use item export controls to Japan – boosting tungsten's strategic value and safe-haven demand.

 However, the market also faces risks including escalating trade frictions, potential sanctions on cross-border flow of tungsten products, and threats from alternative materials due to supply shortages.

Currently, tungsten prices maintain a strong trend, as tight supply at mines and smelters persists and holders remain confident in supporting prices. 

Downstream powder metallurgy firms focus on rigid demand, with product prices rising alongside raw material costs. 

Tungsten scrap prices have surged, lifting cash sales willingness while buying sentiment stays cautious.

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.