September 8, 2025 Tungsten Price Overview

September 8, 2025 Tungsten Market Report

Quotations from Jiangxi industry institutions and major tungsten enterprises have been successively announced, with significant price increases injecting confidence into the uncertain market sentiment. On Monday, tungsten prices continued to reach new highs, with tungsten concentrate, tungsten powder, and tungsten carbide powder prices all doubling year-to-date. Currently, sellers are showing increased willingness to cash out shipments, but no low-priced offerings have been observed. Meanwhile, buyers are reluctant to actively accept high-priced raw materials. The market remains cautiously transacting on a demand basis with case-by-case negotiations, resulting in an overall subdued trading atmosphere.

Latest Tungsten Product Quotations as of Press Time

65% black tungsten concentrate price quoted at 286,000 yuan per metric ton, up 100% from the beginning of the year. 65% white tungsten concentrate price quoted at 285,000 yuan per metric ton, up 100.7% from the beginning of the year. Ammonium paratungstate (APT) price quoted at 415,000 yuan per ton, up 96.7% from the beginning of the year. European APT price at 535-550 USD per ton tungsten trioxide equivalent (approximately 338,000-347,000 yuan per ton), up 64.4% from the beginning of the year. Tungsten powder price quoted at 640 yuan per kilogram, up 102.5% from the beginning of the year. Tungsten carbide powder price quoted at 625 yuan per kilogram, up 101.0% from the beginning of the year. Ferrotungsten 70% price quoted at 405,000 yuan per ton, up 88.4% from the beginning of the year. European ferrotungsten price at 77.5-81 USD per kilogram tungsten (approximately 387,000-405,000 yuan per ton), up 80.1% from the beginning of the year. Waste tungsten rod price quoted at 445 yuan per kilogram, up 102.3% from the beginning of the year.

Jiangxi Industry Institution and Major Tungsten Enterprise Quotations

Ganzhou Tungsten Association September 2025 tungsten market forecast prices: 55% black tungsten concentrate at 280,000 yuan per metric ton, up 87,500 yuan per metric ton month-on-month from August, representing a 45.45% increase; ammonium paratungstate at 410,000 yuan per ton, up 127,000 yuan per ton month-on-month, representing a 44.88% increase; medium particle tungsten powder at 650 yuan per kilogram, up 210 yuan per kilogram month-on-month, representing a 47.73% increase.

Jiangxi Tungsten Holdings Group's national standard first-grade black tungsten concentrate guidance price for the first half of September 2025 at 275,000 yuan per metric ton, up 62,000 yuan per metric ton from the second half of August, representing a 29.11% increase and a monthly increase of 41.75%.

Zhangyuan Tungsten Industry's first half of September 2025 long-term contract procurement quotations (including 13% VAT): black tungsten concentrate (WO3≥55%) at 280,000 yuan per metric ton, up 69,000 yuan per metric ton from the second half of August, representing a 32.70% increase and a monthly increase of 45.45%; white tungsten concentrate (WO3≥55%) at 279,000 yuan per metric ton, up 69,000 yuan per metric ton from the second half of August, representing a 32.86% increase and a monthly increase of 45.69%; ammonium paratungstate (national standard grade zero) at 410,000 yuan per ton, up 100,000 yuan per ton from the second half of August, representing a 32.26% increase and a monthly increase of 44.88%.

Trump Exempts Tungsten Products from Import Tariffs

On September 5 local time, the White House issued a statement announcing that President Trump signed an executive order adjusting the scope of import tariffs and implementing trade and security framework agreements with foreign trade partners. Industry professionals have noted that tungsten products are included in the tariff exemption list and have consulted regarding potential impacts. It is understood that on April 2 this year, when the White House announced that the United States entered a national emergency state and imposed a 10% "reciprocal tariff" on all trade partners, it simultaneously released an exemption list. Comparing this exemption list with the current one, the relevant categories involving tungsten products have not been adjusted. Therefore, tungsten products continue to maintain their exemption status, meaning that related commodities' trade with the United States will temporarily not be directly affected by tariff measure adjustments.