Views: 0 Author: Site Editor Publish Time: 2026-01-27 Origin: Site
Recently, Chinatungsten Online released the latest analysis of the tungsten market, showing that against the backdrop of rising global gold prices hitting a new all-time high, the tungsten market has delivered an even more impressive performance, with price increases far outpacing most metal categories.
In 2025, tungsten prices surged by more than 220% throughout the year, significantly outperforming the base metal and precious metal markets; entering 2026, the upward momentum has not abated, with a year-to-date increase of over 22%. As of now, the price of tungsten concentrate has exceeded RMB 560,000/ton, ammonium paratungstate has reached RMB 830,000/ton, and tungsten powder has surpassed RMB 1.32 million/ton, with all core product prices maintaining a high level.
It is reported that the core driving force behind the continuous surge in tungsten prices, in addition to the tight global tungsten supply fundamentals, stems from the high uncertainty of the global political and economic environment and the escalation of geopolitical conflicts, which have jointly boosted the surge in demand for strategic reserves, safe-haven assets and strategic asset investments. With its irreplaceable industrial and defense attributes, tungsten has become a core target for the revaluation of strategic resources.
Major economies including Europe and the United States have listed tungsten as a critical mineral and are accelerating the construction of diversified supply chains to reduce their dependence on Chinese tungsten products, which account for 80% of the global market share.
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.
