Tungsten Prices Remain Strong Despite Slower Gains, Market Sensitivity Stays Elevated

This week, the tungsten market continued its upward trajectory. Although the rate of increase has slowed compared with the rapid surge seen earlier, prices remain firmly within an ascending channel. With two major domestic tungsten producers releasing their latest long-term contract prices, market sentiment has been noticeably boosted. Both raw tungsten materials and tungsten scrap markets reacted positively, with several product categories seeing varying degrees of price increases.

Raw Tungsten and Scrap Prices Rise Together as Market Divergence Widens

Following the release of long-term contract prices, sentiment in the raw material segment strengthened further, and procurement activities in the scrap tungsten market increased. However, industry observers note that a gap still exists between major producers’ purchase prices and spot market quotations, reflecting differing expectations among market participants regarding the future trend.
Under the current high-price environment, the tungsten industry chain has become more sensitive, and both buyers and sellers remain cautious—transactions continue to center mainly on rigid demand.

Key Tungsten Products Continue to Climb in Price

Tungsten powder rose to 775 RMB/kg, up 2% week-on-week and 145.3% higher than at the start of the year.

Tungsten carbide powder increased to 745 RMB/kg, up 2.1% week-on-week and 139.6% higher than at the beginning of the year.

The strong upward momentum seen this year has been driven by multiple factors, including tight supply in the mining sector, increased holding sentiment among resource-based enterprises, and steady downstream demand.

Rising Raw Material Costs Push Up Hard Alloy Prices

Tungsten carbide powder is a key raw material in the production of cemented carbide. Its continued price growth directly raises the production cost of hard alloy products.
This has a particularly noticeable impact on the manufacturing costs of the following drill tools:

DTH bits

Button bits

Chisel bits

Cross bits

Retract bits

Thread button bits

With cost pressures intensifying, many companies in the industry have begun evaluating product price adjustments to maintain stable supply and reasonable profit margins.

QIDELI’s Commitment and Outlook

The QIDELI team will continue to closely monitor tungsten industry developments and provide partners with timely, accurate market trend analyses to help them plan procurement strategies and mitigate cost pressures.
QIDELI remains committed to supplying reliable and durable drilling tools and delivering attentive service to customers worldwide. Amid raw material price volatility, we will continue working hand-in-hand with our partners to navigate industry challenges and explore new opportunities for growth.