Tungsten Market Remains Stable Amidst Tug-of-War; Tungsten Concentrate Holds at 410,000 Yuan/Standard Ton; Tungsten Scrap Prices Show Upward Movement
August 10, 2026
The tungsten market has recently maintained a state of stable equilibrium amidst a tug-of-war between bullish and bearish forces. According to data from China Tungsten Online, as of August 10, the price of 55% grade tungsten concentrate remained firm at 410,000 yuan per standard ton, while the price of ammonium paratungstate (APT) held steady at approximately 610,000 yuan per ton. Quotes for tungsten powder and tungsten carbide powder stood at 970 yuan/kg and 920 yuan/kg, respectively, and the price of 70% ferrotungsten consolidated around 660,000 yuan per ton.
On the supply side, miners generally maintained a reluctance to sell at low prices, resulting in limited circulation of material at higher price points. Last Friday, a mining company in Guangdong sold 54 standard tons of 24.17% grade scheelite concentrate via public auction at a transaction price of 393,000 yuan per standard ton. On the demand side, the market adopted a wait-and-see attitude; purchasing activity was largely limited to meeting immediate needs, resulting in limited growth in transaction volumes.
Notably, tungsten scrap prices showed signs of a tentative upward trend. As of this report, the price of tungsten scrap rods was approximately 770 yuan/kg, and the price of domestic inserts was around 628 yuan/kg. Holders of stock showed an increased willingness to support market prices, driven by high holding costs and policy-related news. However, buyers remained noticeably hesitant, with a relative decline in enthusiasm for taking delivery. Industry insiders noted that the narrowing price gap between recycled tungsten carbide powder and virgin tungsten carbide powder has, to some extent, dampened the willingness of downstream cemented carbide enterprises to purchase scrap material.
In the international market, European APT prices remained in the range of 3,000–3,279 USD per mtu (metric ton unit)-equivalent to approximately 1.79–1.96 million yuan per ton-representing a surge of 241.3% since the beginning of the year. The price disparity between domestic and international markets remains significant.
Looking ahead, the market is currently in the traditional off-season for consumption (July–August); prices are expected to see a new round of upward movement once the peak season begins in September and October. Driven by the combined factors of rising demand for AI-enabled PCB micro-drills and tungsten hexafluoride, alongside robust military restocking needs, the market remains bullish on the medium- to long-term price trend of tungsten concentrate.