January 4, 2026: Tungsten market stabilizes,cobalt prices remain relatively strong.
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Author : Ruby C.
Update time : 2026-01-04 15:15:44
Tungsten Market Outlook for January 4, 2026:
A Prosperous Start to 2026!
The tungsten market is currently operating stably. After a significant increase of over 220% in 2025 and a narrow adjustment at the end of the year, the tungsten raw material market is generally cautiously stabilizing, with market participants generally observing the first round of quotations from industry institutions and large enterprises for the new year. The tungsten scrap market has gradually stabilized amidst the year-end fluctuations and corrections, with slight price increases appearing in some areas, indicating a clear game between buyers and sellers. The cobalt market is performing strongly.
The cobalt export quota management system implemented by the Democratic Republic of Congo, along with the requirement to prepay 10% of the quota as mining royalties, has further restricted the supply chain and pushed up costs, supporting the strong cobalt price. It is worth noting that due to delays in the export procedures, quota goods failed to leave the country as scheduled, and the implementation period for its 18,125-ton cobalt export quota for the fourth quarter of 2025 has been extended to March 31, 2026. This increases the total quota for the first quarter of this year, and the actual implementation of this policy needs to be monitored.
As of press time, the price of 65% black tungsten concentrate was RMB 460,000/standard ton. The price of 65% white tungsten concentrate was RMB 459,000/standard ton. The price of ammonium paratungstate (APT) was RMB 670,000/ton. The price of European APT was USD 825-900/ton (equivalent to RMB 511,000-557,000/ton). The price of tungsten powder was RMB 1,080/kg. The price of tungsten carbide powder was RMB 1,040/kg. The price of cobalt powder was RMB 520/kg. The price of 70% ferrotungsten was RMB 650,000/ton. The price of European ferrotungsten was USD 133-142/kg tungsten (equivalent to RMB 651,000-695,000/ton). The price of scrap tungsten rods was RMB 600/kg. The price of scrap tungsten drill bits was RMB 580/kg.
