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Prices of Tungsten Products in August 2025
Chinatungsten 中钨在线 2025年08月29日 12:31 福建
In August 2025, China's tungsten market showed a strong upward trend. Prices of major tungsten raw materials increased by approximately 30% this month, bringing the cumulative increase to approximately 80% year-to-date. The monthly average price rose by over 15% month-on-month and over 55% year-on-year.
This month's upward trend in tungsten prices was primarily driven by supply bottlenecks and reluctance among holders to sell. The 2025 total tungsten mining quota control targets have yet to be announced, but the first batch of reduced quotas continues to support the view of a tight market supply. While rising profit margins are stimulating production at mines and smelters and activating historically dormant inventories, environmental inspections, safety inspections, inventory drawdown during the recent two-year rally, and holders' reluctance to sell are constraining spot supply. Furthermore, safety production requirements and the national atmosphere during the September 3rd military parade further fueled expectations of tight supply and fueled market enthusiasm.
Notably, persistently high tungsten prices have deterred consumers, resulting in few transactions in the market, apart from essential orders and high-value-added demand with lower price sensitivity. Since the beginning of this year, cemented carbide manufacturers have been forced to issue price increase notices three to five times due to operational pressure from raw material costs. Some companies have even stopped updating prices, implementing a "one-on-one negotiation" approach.
Overall, the tungsten market closed out August with a strong performance. In the short term, industry players are focused on news releases from September 3rd and evolving domestic and international situations, while remaining cautious about speculative market risks. Long-term, tungsten market demand remains robust, driven by policies supporting domestic demand and consumption, as well as the continued momentum of high-end manufacturing and strategic projects. Coupled with tungsten's non-renewable nature and strategic resource nature, the long-term upward trend in tungsten prices remains unchanged.
Average Price of Tungsten Products in August 2025
65% Wolframite Concentrate: The average price was RMB 211,381/ton, reflecting a month-on-month increase of 16.60% and a year-on-year increase of 55.48% compared to August 2024. The quotation at the end of the month increased by 29.23% compared to the beginning of the month.
65% Scheelite Concentrate: The average price was RMB 210,381/ton, showing a month-on-month increase of 16.69% and a year-on-year increase of 55.89%. The quotation at the end of the month rose by 29.38% compared to the beginning of the month.
Ammonium Paratungstate (APT): The average price was RMB 312,524/ton, with a month-on-month increase of 18.03% and a year-on-year increase of 54.68%. The quotation at the end of the month increased by 31.12% compared to the beginning of the month.
Tungsten Powder: The average price was RMB 473.10/kg, reflecting a month-on-month increase of 19.43% and a year-on-year increase of 55.70%. The quotation at the end of the month rose by 36.05% compared to the beginning of the month.
Tungsten Carbide Powder: The average price was RMB 461.43/kg, showing a month-on-month increase of 19.23% and a year-on-year increase of 54.4%. The quotation at the end of the month rose by 35.71% compared to the beginning of the month.
70% Ferrotungsten: The average price was RMB 314,286/ton, with a month-on-month increase of 16.80% and a year-on-year increase of 51.17%. The quotation at the end of the month rose by 27.59% compared to the beginning of the month.
Tungsten Bar: The average price was RMB 508.81/kg, representing a month-on-month increase of 13.56% and a year-on-year increase of 37.52%. The quotation at the end of the month increased by 27.66% compared to the beginning of the month.
Cobalt Powder: The average price was RMB 299.76/kg, showing a month-on-month increase of 9.26% and a year-on-year increase of 55.20%. The quotation at the end of the month rose by 5.17% compared to the beginning of the month.
Average Price of Tungsten Products from January to August 2025
65% Wolframite Concentrate: The average price was RMB 163,610/ton, reflecting a year-on-year increase of 21.41% compared to January–August 2024. The quotation at the end of August increased by 76.22% compared to the beginning of the year.
65% Scheelite Concentrate: The average price was RMB 162,610/ton, showing a year-on-year increase of 21.68%. The quotation at the end of August rose by 76.76% compared to the beginning of the year.
Ammonium Paratungstate (APT): The average price was RMB 240,549/ton, with a year-on-year increase of 20.45%. The quotation at the end of August increased by 77.73% compared to the beginning of the year.
Tungsten Powder: The average price was RMB 359.95/kg, reflecting a year-on-year increase of 19.89%. The quotation at the end of August rose by 85.13% compared to the beginning of the year.
Tungsten Carbide Powder: The average price was RMB 353.40/kg, showing a year-on-year increase of 19.56%. The quotation at the end of August increased by 83.28% compared to the beginning of the year.
70% Ferrotungsten: The average price was RMB 245,325/ton, with a year-on-year increase of 22.74%. The quotation at the end of August rose by 72.09% compared to the beginning of the year.
Tungsten Bar: The average price was RMB 410.89/kg, representing a year-on-year increase of 14.50%. The quotation at the end of August increased by 62.16% compared to the beginning of the year.
Cobalt Powder: The average price was RMB 246.45/kg, showing a year-on-year increase of 20.45%. The quotation at the end of August rose by 79.41% compared to the beginning of the year.
