Tungsten Market Summary – June 1, 2026

Tungsten Market Summary – June 1, 2026 

China’s domestic tungsten market trended up overall on Monday. Supported by raw material costs and improved market sentiment across some industry segments, major tungsten products edged higher in price, while trading remained dominated by rigid demand amid a market stance of tentative price hikes and wait-and-see sentiment.

Raw material holders stood firm on asking prices, yet downstream buyers kept purchases limited and mostly restocked only to meet immediate production needs, capping actual price gains. Tungsten powder climbed on rising input costs with improved inquiry activity but scarce large-lot orders; cemented carbide manufacturers and end-user purchasers stayed prudent on procurement. The scrap tungsten market saw brisk speculative buying and improved liquidity, though overall market sentiment remained cautious amid potential price volatility triggered by shifting trading moods.

Key Tungsten Product Prices on the Day

65% Black Tungsten Concentrate: CNY 430,000/MT, down 59.1% from historical peak, down 6.5% year-to-date

65% Scheelite Concentrate: CNY 429,000/MT, down 59.1% from historical peak, down 6.5% year-to-date

Ammonium Paratungstate (APT): CNY 680,000/MT, down 55.3% from historical peak, up 1.5% year-to-date

European APT: USD 3,000–3,140 per metric tonne unit (equivalent to approx. CNY 1.798–1.882 million/MT), down 2.2% from historical peak, up 233.7% year-to-date

Tungsten Powder: CNY 1,040/kg, down 56.7% from historical peak, down 3.9% year-to-date

Tungsten Carbide Powder: CNY 1,000/kg, down 57.3% from historical peak, down 3.9% year-to-date

Cobalt Powder: CNY 560/kg, down 3.5% from yearly high, up 7.7% year-to-date

70% Ferrotungsten: CNY 710,000/MT, down 50% from historical peak, up 9.2% year-to-date

European Ferrotungsten: USD 230–250 per kg of tungsten content (equivalent to approx. CNY 1.09–1.185 million/MT), down 26.2% from historical peak, up 74.6% year-to-date

Scrap Tungsten Alloy Rod: CNY 720/kg, down 47.5% from historical peak, up 20.0% year-to-date

Scrap Tungsten Drill Bit: CNY 670/kg, down 51.1% from historical peak, up 15.5% year-to-date

Terminology Note 

MT = Metric Ton; tonne unit ("tonne unit tungsten") is the standard international pricing unit for tungsten ores.

Summary: On June 1, 2026, China's tungsten market trended upward overall, supported by rising raw material costs and improved sector-specific sentiment. Tungsten product prices saw tentative increases, but cautious downstream procurement—limited to immediate production needs—capped actual gains. Tungsten powder prices edged higher amid stronger inquiries, while scrap tungsten liquidity improved due to speculative activity; however, overall market sentiment remained restrained by volatility concerns. Most products traded at historically low levels (e.g., 65% tungsten concentrates down ~59% from peaks), with European APT surging 233.7% year-to-date contrasting with declines in domestic tungsten powder (-3.9%) and carbide (-3.9%). The market remains locked in a stalemate, where sustained price recovery hinges on tangible demand improvement rather than speculative or cost-driven momentum.