Views: 0 Author: Site Editor Publish Time: 2026-02-04 Origin: Site
Chinatungsten Online’s latest tungsten market analysis shows that global tungsten prices have maintained an upward trend, driven by tight supply chains and growing strategic resource value. The market is characterized by tight supply and high prices, while pre-Chinese New Year funding constraints have pressured downstream users, leading to sluggish actual transactions with most deals being small-batch and demand-based.
In terms of key products, 65% wolframite concentrate and 65% scheelite concentrate are priced at RMB 642,000/ton and RMB 641,000/ton respectively, up 39.6% and 39.7% year-to-date. Domestic ammonium paratungstate (APT) stands at RMB 950,000/ton (up 41.8% YTD), while European APT ranges from USD 1100-1398/mtu (equivalent to RMB 675,000-858,000/ton), a 35.8% YTD increase.
Tungsten powder and tungsten carbide powder have risen steadily to RMB 1580/kg (up 46.3% YTD) and RMB 1530/kg (up 47.1% YTD) respectively. Cobalt powder is priced at RMB 580/kg, up 11.5% YTD. The ferrotungsten market has seen price increases driven by cost factors, though downstream acceptance remains limited, resulting in slow transaction pace. A wait-and-see sentiment prevails across the market ahead of the Spring Festival, with transactions negotiated on a case-by-case basis.
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.
