Tungsten Market Surges Sharply in Early 2026: Prices Up 85%+ in Two Months amid Supply Tightness and Strategic Re-rating

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Tungsten Market Surges Sharply in Early 2026: Prices Up 85%+ in Two Months amid Supply Tightness and Strategic Re-rating

Views: 0 Author: Site Editor Publish Time: 2026-03-03 Origin: Site

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Analysis of Latest Tungsten Market from Chinatungsten Online

The global tungsten market remains in a strong bull run, supported by supply-side constraints, elevated strategic mineral status, and growing capital preference. According to Chinatungsten Online, tungsten raw material prices have jumped roughly 85% in just the first two months of 2026, while tungsten scrap prices have soared by 120%, underscoring the intense market momentum.

The ongoing optimism is driven primarily by policy and sentiment-led supply restrictions, the strengthening role of tungsten as a strategic critical mineral, and increased capital allocation toward hard assets. These factors have combined to underpin a robust upward price trajectory across the entire tungsten value chain.

Nevertheless, the exuberant market sentiment has also led to accumulating risks. On March 2, several listed tungsten enterprises issued announcements on abnormal stock price movements, warning investors of potential risks from the rapid share price rally and urging caution in secondary market trading.

Key Price Updates (as of press time)

65% Wolframite Concentrate: RMB 850,000/mt (+84.8% YTD)
65% Scheelite Concentrate: RMB 849,000/mt (+85.0% YTD)
Ammonium Paratungstate (APT): RMB 1,260,000/mt (+88.1% YTD)
European APT: USD 1,890–1,998/mtu (RMB 1.149–1.214 million/mt, +111.3% YTD)
Tungsten Powder: RMB 2,000/kg (+85.2% YTD)
Tungsten Carbide Powder: RMB 1,940/kg (+86.5% YTD)
Cobalt Powder: RMB 580/kg (+11.5% YTD)
70% Ferrotungsten: RMB 1.2 million/mt (+84.6% YTD)
European Ferrotungsten: USD 209–230/kg W (RMB 1.005–1.054 million/mt, +59.6% YTD)
Scrap Tungsten Rods: RMB 1,320/kg (+120.0% YTD)
Scrap Tungsten Drill Bits: RMB 1,300/kg (+124.1% YTD)

Looking ahead, the market will continue to balance strong fundamental support against near‑term volatility and risk factors as both supply policies and trading sentiment evolve.

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