Recent Developments in the Tungsten Market
Tungsten Prices Show Different Trends Across the Supply Chain
The tungsten market has recently shown a divergence between upstream and downstream segments.
According to SMM's August 28 market analysis, the average price of 65% black tungsten concentrate reached RMB 418,500 per tonne on August 21 before easing slightly to RMB 417,500 per tonne.
Meanwhile, domestic APT prices moved lower during August, declining from RMB 610,000 per tonne on August 3 to RMB 598,000 per tonne by August 28.
This difference is important.
It shows that changes in the tungsten market do not necessarily affect every stage of the supply chain at the same time.
For carbide manufacturers, monitoring both upstream raw materials and downstream demand is therefore increasingly important.
European Tungsten Markets Continue to Face Cost Pressure
The international market is also experiencing significant changes.
Argus reported in August that European tungsten prices had started to soften after a period of substantial increases.
Its assessment indicated that European APT prices had risen by nearly 500% year over year following sharp increases associated with China's export restrictions introduced in 2025. By August 11, the European APT assessment had fallen to $2,780–3,100 per metric tonne unit.
Although prices have recently shown some signs of easing, European manufacturers have already experienced the impact of higher tungsten-related costs.
This demonstrates why raw-material price movements remain an important consideration for companies purchasing tungsten carbide products.
Global Supply Security Is Becoming More Important
Price is only one part of the current tungsten market.
Supply security has also become an increasingly important issue.
Recent developments in Europe and North America show that governments and companies are looking for ways to strengthen access to tungsten and other critical minerals.
For example, the UK government recently committed up to £71 million to support the development of the Hemerdon tungsten and tin mine in Devon. The project is expected to contribute to the UK's domestic critical-minerals supply strategy.
This type of investment reflects a broader trend:
Tungsten is increasingly being treated as a strategic industrial material rather than simply another commodity.
For industrial buyers, this means supply-chain considerations may become increasingly important when evaluating long-term carbide suppliers.
What Does This Mean for Tungsten Carbide Buyers?
1. Raw Material Costs May Remain an Important Procurement Factor
Tungsten carbide products depend heavily on tungsten-based raw materials.
Changes in concentrate, APT, tungsten powder, and carbide powder prices can influence manufacturing costs.
However, buyers should avoid evaluating carbide products based only on short-term raw-material prices.
The final cost of a carbide component also depends on:
Material grade
Product dimensions
Manufacturing process
Machining requirements
Surface finishing
Production quantity
Quality requirements
Therefore, a more complete procurement strategy should consider the total value of the finished component.
2. Stable Supply Can Be More Valuable Than Short-Term Price
When raw-material markets become volatile, a supplier's ability to maintain stable production becomes increasingly important.
Industrial customers may need to consider:
Material availability
Production capacity
Delivery consistency
Quality stability
Communication efficiency
Long-term cooperation capability
A supplier that can maintain consistent production and communication can help customers reduce uncertainty during changing market conditions.
3. Material Selection Becomes Even More Important
Not every application requires the same tungsten carbide grade.
Different working environments may require different balances between:
Hardness
Toughness
Wear resistance
Impact resistance
Choosing an appropriate grade can help customers avoid unnecessary material costs while achieving the required service life.
For this reason, procurement decisions should consider both material performance and application requirements.
4. Customized Carbide Solutions Can Help Optimize Costs
Standard products are not always the most economical solution.
For certain applications, customized dimensions, grades, geometries, or manufacturing processes may help improve component performance and reduce unnecessary material consumption.
Customized tungsten carbide solutions can be particularly valuable for:
Industrial wear parts
Cutting components
Mining components
OEM carbide parts
The objective is not simply to use more carbide, but to use the right carbide solution for the application.
How Brace Carbide Responds to Changing Market Conditions
At Brace Carbide, we understand that industrial customers need more than competitive product pricing.
They also need:
Stable product quality
Reliable production
Customized solutions
Clear technical communication
Consistent delivery support
We provide customized tungsten carbide and cemented carbide components for industrial applications, including:
Tungsten carbide wear parts
Industrial shredder blades
Customized carbide components
OEM and ODM products
Precision-machined carbide parts
By understanding customer requirements and application conditions, we work to provide suitable carbide solutions for different industrial environments.
What Should Carbide Buyers Watch Next?
As the tungsten market continues to evolve, industrial buyers should pay attention to several factors:
Raw Material Prices
Changes in tungsten concentrate, APT, tungsten powder, and carbide powder prices can influence manufacturing costs.
Supply Developments
New mining projects and efforts to diversify supply sources may gradually influence the global tungsten supply structure.
International Trade Policies
Changes in export controls and trade regulations can affect international tungsten flows and procurement strategies.
Downstream Demand
Demand from cutting tools, wear-resistant components, mining, recycling, and other industrial applications will continue to influence the market.
Conclusion
The tungsten market in 2026 is becoming increasingly complex.
Recent data shows that upstream tungsten concentrate prices, APT prices, downstream carbide products, and international markets are not necessarily moving in the same direction.
At the same time, new investments in tungsten mining and growing attention to critical-mineral supply security indicate that the global tungsten supply chain is undergoing broader changes.
For tungsten carbide buyers, this means procurement decisions should go beyond short-term price comparisons.
Material selection, product quality, supplier reliability, customization capability, and supply stability all play important roles in long-term purchasing decisions.
At Brace Carbide, we continue to focus on providing customized tungsten carbide solutions for global industrial customers and supporting reliable long-term cooperation.
FAQ
Why are tungsten prices important for carbide buyers?
Tungsten is a key raw material for cemented carbide, so changes in tungsten concentrate, APT, and tungsten powder prices can influence carbide manufacturing costs.
Are tungsten prices currently rising?
Market conditions are mixed. Recent August data showed relatively firm tungsten concentrate prices while domestic APT prices moved lower. International markets have also experienced significant price changes.
Will tungsten supply become more diversified?
New mining and supply-development projects in regions outside China indicate efforts to diversify tungsten supply, although the impact of these projects will depend on their development and production timelines.
How can carbide buyers manage raw-material price uncertainty?
Buyers can reduce uncertainty by working with reliable suppliers, planning purchases carefully, selecting appropriate material grades, and evaluating total product value rather than focusing only on the lowest initial price.
Can Brace Carbide provide customized tungsten carbide products?
Yes. Brace Carbide provides customized tungsten carbide and cemented carbide components according to customer drawings, dimensions, material requirements, and application conditions.