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Tungsten Bar Price Trend and Forecast

UNSPC code: 30266501
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⟳ Weekly Update
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Historical Data Since 2015
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Forecast for 2026
  • Commodity Pricing

tungsten bar Price Trends by Country

cnChina

Global tungsten bar Spot Market Prices, Trend Analysis and Forecast

Price-Watch™ provides price assessments for Tungsten bar across top trading regions:

Asia-Pacific

  • Tungsten Bar 99.9%min EX-Shanghai, China
  • Tungsten Bar 99.9%min FOB Shanghai, China

 

Note: In assessments structured as CIF [Importing Port] (Exporting Country), the country mentioned in brackets indicates the primary origin of supply (exporting country), while the named port refers to the destination port in the importing country. Other Incoterms (FOB, FD, EXW, etc.) should be interpreted in accordance with standard international trade definitions.

Tungsten Bar Price Trend Q1 2026

During Quarter 1 of 2026, there has been an unprecedented increase in prices and overall movement of tungsten bar around the world because of the extremely tight supply and high levels of strategic procurement by major consumers of the product.

China’s continued dominance of the tungsten bar product resulted in price increases that have been unparalleled in history due to reduced availability of ore, limited smelter throughput, and increased expectations regarding the future enforcement of more stringent export control regulations.

All of these factors had a direct effect on both domestic and international consumers’ behaviour by accelerating and incentivizing aggressive preemptive buying activity further reducing available inventory of the tungsten bar product in the global marketplace.

Demand for tungsten bar also remained exceptionally strong from critical end-use sectors such as defence, aerospace, and advanced manufacturing creating additional strain on today’s very limited supply of the product.

Competition for available tungsten bars increased leading to large increases in volatility and significant increases in stockpiling of tungsten bar products in anticipation of ongoing supply risks. While the elevated price levels (Q4 2025) created a reasonably solid base for future pricing, the first quarter 2026 has been characterized by dramatic increases in price for tungsten bars largely due to the combined effects of continuing structural shortages and increased geopolitical supply concerns upon the tungsten bar market as a whole.

China: Tungsten Bar Export prices FOB Shanghai, China; Grade- Purity: 99.9%min

According to Price-Watch™, in Q1 2026, Tungsten Bar prices in China surged by an exceptional 141.32% compared with Q4 2025, reflecting one of the most dramatic quarterly increases across the critical minerals market. The Tungsten Bar price trend in China remained extraordinarily bullish, driven by tightening tungsten supply and aggressive strategic procurement amid concerns over potential export restrictions.

Anticipation of stricter Chinese export controls triggered strong preemptive buying from both domestic and international consumers, particularly across cutting tools, drilling equipment, aerospace, and defence applications. At the same time, tungsten ore production struggled to keep pace with accelerating demand, while constrained smelter throughput further tightened availability.

Export demand intensified competition for limited domestic supply, amplifying upward price pressure throughout the quarter. In March 2026, Tungsten Bar prices in China surged by around 39.60% month-on-month, underscoring the severe supply-demand imbalance and heightened market urgency.

Tungsten Bar Price Trend Analysis: Q4 2025

In Q4 of 2025, the tungsten bar market saw significant upward price movements when compared to the previous quarter. The primary cause for this increase has been due to tightened supplies of raw materials, along with increased production costs.

Much of the increase in price has been attributed to decreased quantities of tungsten concentrate available, stemming from stricter mining regulations and environmental inspections in major producing areas of the world.

Upstream prices have also been rising for many of the intermediates used to make tungsten bars, leading to increases in costs for tungsten bar manufacturers as well.

Other important industries that comprised major end users of tungsten, such as aerospace, defense, cutting tools, electronics, and energy equipment, had strong demand for tungsten due in large part to its ability to withstand high heat and wear and tear. Lastly, supply chain issues and limited levels of inventory across the globe led many buyers to be more aggressive in their sourcing of tungsten bars.

China: Tungsten Bar Export prices FOB Shanghai, China; Grade- Purity: 99.9%min

According to Price-Watch™, In Q4 2025, China’s tungsten bar price trend experienced a strong upward movement, with prices rising by 45.09% compared to Q3 2025. The sharp increase was mainly driven by tightening raw material availability, particularly tungsten concentrate, due to stricter mining controls and environmental inspections in key producing regions.

Rising upstream costs, especially for intermediates such as ammonium paratungstate (APT), significantly increased production expenses for tungsten bar manufacturers. At the same time, steady demand from industries including cutting tools, aerospace, electronics, and high-temperature alloys supported market activity.

Limited inventories across the domestic supply chain further amplified the price response as buyers moved to secure material amid tightening supply conditions. Tungsten bar prices in China increased by 13.64% from November to December 2025.

The increase in the price of tungsten bars has been supported by higher prices of raw materials that are used as input by manufacturers and the limited availability of tungsten concentrate.

The global tungsten bar market had a pronounced upward price increase during the third quarter of 2025, driven by tight supply conditions and increasing production costs along the tungsten value chain.

The supply has been limited due to periodic shutdowns of mining operations for maintenance and stricter regulations related to resource management, which limited the amount of tungsten concentrate available on the world market. The increase in energy and processing costs has further increased the production costs of tungsten bars to manufacturers.

Demand has remained steady from major end-use sectors such as machining tools, mining equipment, aerospace components, and electronic manufacturing, all of which require tungsten for applications that must operate at high temperature and/or have a resistance to wear.

In addition, there has been a growing interest in securing critical minerals; as a result, in some regions, industrial buyers and governments are adopting new measures to secure tungsten supply through procurement and increased warehousing. The cumulative effect of limited supply, inflationary pressures, and steady demand from industry created upward price pressure on tungsten bars globally for the balance of the third quarter of 2025.

China: Tungsten Bar Export prices FOB Shanghai, China; Grade- Purity: 99.9%min

In Q3 2025, the China’s tungsten bar market recorded a strong quarterly increase of 41.77% compared to Q2 2025, reflecting significant upward momentum in prices. The rise has primarily been supported by tightening availability of tungsten concentrate as mining activities in several regions faced with stricter resource management policies and periodic production controls. At the same time, rising energy and processing costs increased manufacturing expenses for tungsten bar producers.

Demand remained stable from downstream industries such as cutting tools, electronics, aerospace components, and industrial machinery, which require tungsten for high-temperature and wear-resistant applications. Additionally, relatively limited inventories across the supply chain encouraged buyers to secure material earlier, strengthening market sentiment and supporting higher prices.

In September 2025, tungsten bar prices in China further surged by 35.71% month-on-month, reflecting strong market activity toward the end of the quarter. The sharp increase was driven by limited spot availability of tungsten raw materials and stronger procurement from downstream manufacturers. Firm upstream costs and tightening domestic inventories also contributed to the upward pressure on prices.

According to Price-Watch™, in Q2 2025, the global tungsten bar market experienced a moderate upward trend compared to Q1 2025, reflecting gradual strengthening across the tungsten supply chain. The rise was mainly supported by improving industrial demand from sectors such as cutting tools, mining equipment, aerospace components, and electronics manufacturing, where tungsten is widely used for its high hardness and heat resistance.

At the same time, upstream raw material costs increased as tungsten concentrate and intermediate materials such as ammonium paratungstate (APT) saw firmer pricing due to controlled mining output. Global supply conditions also remained relatively tight as several producers maintained disciplined production levels to balance the market.

Additionally, steady export demand from Europe and North America supported procurement activity among Chinese suppliers. Limited inventories across parts of the supply chain further contributed to the price movement. Overall, the increase reflected a combination of stronger industrial demand, rising raw material costs, and balanced global supply conditions, which supported tungsten bar prices during Q2 2025.

In Q1 2025, the global tungsten bar market experienced a slight upward movement compared to Q4 2024, indicating relatively stable market conditions. The marginal rise was primarily supported by steady demand from key end-use sectors such as cutting tools, mining equipment, electronics, and industrial machinery.

However, overall market activity remained moderate due to cautious procurement behavior following the strong price movements seen in the previous quarter. On the supply side, tungsten concentrate availability remained relatively balanced as mining operations resumed normal production levels after year-end adjustments.

Upstream prices of intermediates such as ammonium paratungstate (APT) also remained relatively stable, limiting significant cost pressure for tungsten bar manufacturers. Additionally, adequate inventories across several global markets reduced urgency among buyers to restock aggressively. Overall, the modest price increase reflected a balanced supply-demand environment, stable raw material costs, and cautious global purchasing activity during Q1 2025.

Tungsten Bar Price Trend Analysis: Q4 2024

In Q4 2024, the global tungsten bar market experienced a moderate upward trend compared to Q3 2024, reflecting improving market sentiment toward the end of the year. The rise was mainly supported by steady demand from key end-use industries such as cutting tools, mining equipment, aerospace components, and electronics manufacturing. Additionally, upstream prices for tungsten concentrate and intermediate products like ammonium paratungstate (APT) showed gradual firmness, which increased production costs for tungsten bar manufacturers. Supply conditions remained relatively controlled as producers maintained disciplined output to avoid oversupply in the market. At the same time, procurement activity from international buyers improved slightly ahead of year-end production cycles, supporting export demand. Inventory levels across several markets were moderate, which allowed producers to maintain stable pricing. Overall, the price increase reflected steady industrial demand, firm raw material costs, and balanced global supply conditions, contributing to moderate growth in tungsten bar prices during Q4 2024.

In Q3 2024, the global tungsten bar market experienced slight downward pressure compared to Q2 2024, reflecting a relatively balanced but softer market environment. The minor decrease was mainly influenced by cautious purchasing activity from downstream sectors such as cutting tools, electronics, and industrial machinery, as manufacturers adjusted procurement following earlier price increases. At the same time, tungsten concentrate supply remained relatively stable as mining operations maintained steady output, which helped ease some of the cost pressures seen in the previous quarter. Upstream prices for intermediates such as ammonium paratungstate (APT) also stabilized, limiting further upward momentum in finished tungsten products. Additionally, moderate inventory levels across parts of the global supply chain reduced urgency among buyers to secure additional material. International demand remained steady but not strong enough to drive significant price growth. Overall, the slight price decline reflected balanced supply conditions, stable raw material costs, and cautious global procurement activity during Q3 2024.

In Q2 2024, the global tungsten bar market experienced a strong upward trend compared to Q1 2024, reflecting tightening supply conditions and stronger industrial demand. The rise was mainly driven by higher tungsten concentrate prices as mining activities in key producing regions faced stricter environmental inspections and controlled output. At the same time, the cost of upstream intermediates such as ammonium paratungstate (APT) increased, which pushed production costs higher for tungsten bar manufacturers. Demand strengthened from major end-use sectors including cutting tools, mining equipment, aerospace components, and electronics manufacturing, supporting procurement activity in the global market. Additionally, increased export demand from North America and Europe encouraged Chinese producers to maintain firm pricing. Market participants also reported relatively tight inventories, which amplified the impact of rising raw material costs on finished tungsten products. Overall, the price increase reflected a combination of supply-side constraints, higher upstream costs, and steady global industrial demand, which supported tungsten bar prices during Q2 2024.

In Q1 2024, the global tungsten bar market witnessed a modest upward trend compared to Q4 2023, indicating gradual stabilization in the tungsten supply chain. The price movement was primarily supported by steady demand from key industries such as cutting tools, mining equipment, electronics, and industrial machinery, which continued to require tungsten for high-strength and heat-resistant applications. At the same time, upstream raw material prices, particularly tungsten concentrate and ammonium paratungstate (APT), showed slight firmness due to controlled mining output in major producing regions. Supply conditions remained relatively balanced as producers maintained stable operating rates following year-end production adjustments. Additionally, improving procurement activity from international buyers, particularly from manufacturing sectors in Asia and Europe, supported market sentiment. However, sufficient inventories across parts of the supply chain limited sharper price increases. Overall, the moderate price rise reflected stable industrial demand, slightly firmer raw material costs, and balanced global supply conditions during the first quarter of 2024.

Technical Specifications of Tungsten Bar Price Trends

Product Description

Tungsten Bar is a high-density metal product known for its exceptional strength, hardness, and heat resistance. It is manufactured using advanced powder metallurgy processes to ensure high purity, uniform structure, and reliable performance. These bars typically appear as solid cylindrical or rectangular rods with a metallic gray finish and are available in various diameters and lengths to meet industrial requirements.

Tungsten bars offer excellent wear resistance, dimensional stability, and durability even in extreme temperature environments. They are widely used in aerospace components, electrical contacts, high-temperature furnaces, radiation shielding, machining tools, and other demanding industrial applications where high strength and heat resistance are essential.

Identifiers and Classification:

HS Code – 81019400
CAS Number: 7440-33-7

Tungsten Bar Synonyms:

  • Tungsten Rod


Tungsten Bar Global Trade and Shipment Terms

  • Quotation Terms (Product & Country Specific): 6-8MT
  • Packaging Type (Product & Country Specific): Steel Drum


Incoterms Referenced Tungsten Bar Price Reporting

Shipping Term  Location  Definition 
EX-Shanghai  Shanghai, China  Domestically Traded Tungsten Bar price in China 
FOB Shanghai  Shanghai, China  Tungsten Bar Export price from China 

*Quotation Terms refers to the quantity range specified for the Tungsten Bar being quoted or offered in a commercial transaction.

**Packaging Type refers to standard packaging size commonly used for Tungsten Bar packing, ease of handling, transportation, and storage in industrial and commercial applications.

Key Tungsten Bar Manufacturers

Xiamen Tungsten Co., Ltd. 
China Tungsten and Hightech Materials Co., Ltd. 
Global Tungsten & Powders Corp 
CMOC Group Limited 
Toshiba Materials Co., Ltd. 

Tungsten Bar Industrial Applications

Historically, several events have caused significant fluctuations in Tungsten Bar prices

  • China Export Controls (2025): China introduced stricter export controls and licensing requirements on critical minerals including tungsten, tightening global supply availability and increasing supply chain uncertainty for international buyers.
  • EV Transition & Supply Chain Realignment (2023–Present): Rising demand from electric vehicles, advanced electronics, and defense applications, along with geopolitical efforts to diversify supply chains, has supported tungsten demand and encouraged new mining developments.
  • Post-COVID Recovery & Critical Minerals Focus (2021–2022): Global manufacturing recovery and the classification of tungsten as a critical mineral by several economies encouraged investments in supply diversification and supported price recovery.
  • Trade War & COVID-19 Disruptions (2019–2020): The U.S.–China trade tensions created uncertainty in tungsten supply chains, while the COVID-19 pandemic disrupted global manufacturing and logistics, temporarily weakening demand and prices.
  • Brief Market Recovery (2017–2018): Improved global manufacturing activity and stricter environmental regulations in China reduced illegal mining supply, allowing tungsten prices to recover moderately.
  • Prolonged Bear Market (2012–2016): Slower Chinese construction growth and weaker global manufacturing demand led to a steady decline in tungsten prices, forcing several non-Chinese mining projects to suspend operations.

 

These events underscore the Tungsten Bar market’s sensitivity to supply disruptions, industrial demand shifts, and geopolitical or policy interventions, highlighting the importance of monitoring both global supply and domestic consumption patterns.

Why Price Watch™?

Price Watch™ is your trusted resource for tracking global tungsten bar price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the tungsten bar market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, Price Watch™ keeps you fully informed of market dynamics.

In addition, Price Watch™ provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With Price Watch™, you gain a competitive edge in understanding all the elements that influence tungsten bar prices worldwide. Stay ahead of the curve with Price Watch’s™ reliable, accurate, and timely tungsten bar market data.

Track Price Watch's™ tungsten bar price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Tungsten Bar Market Price Trend published by Price Watch™ reflect prevailing spot market conditions, derived from independent research, verified trade inputs, and proprietary market intelligence as of the publication date. Prices are published on the specified Incoterm and represent indicative base market levels, exclusive of applicable taxes, VAT, duties, tariffs, and other statutory charges. Actual transaction values may vary depending on volume, credit terms, contractual structure, and other negotiated conditions. Market prices are inherently subject to volatility, liquidity dynamics, regulatory changes, and evolving trade activity. The information provided is for reference and benchmarking purposes only and does not constitute an offer, recommendation, or guarantee of transactional outcomes. Users should exercise independent commercial judgment and assess their specific contractual, regulatory, tax, and application requirements before making business decisions. Price Watch™ assumes no liability for decisions taken based on this information.

Tungsten Bar is a solid form of tungsten metal known for its extremely high melting point, strength, and resistance to heat and wear. It is widely used in industries such as aerospace, electronics, mining, and cutting tool manufacturing. The price of tungsten bars matters because it affects production costs for these industries. Price-Watch™ tracks these prices to help businesses and consumers understand and stay updated with the market trends.

Tungsten Bar prices fluctuate depending on global supply and demand, purity levels, processing costs, and regional market conditions. Prices are usually quoted per kilogram or metric ton and may vary across different markets. Price-Watch™ provides real-time price assessments across different global markets to help buyers and sellers make informed decisions.

Tungsten Bar prices are influenced by industrial demand, mining output, refining capacity, and export policies in major producing countries. Energy costs, recycling supply, and currency movements also play a role in price fluctuations. Global economic conditions and manufacturing activity can further impact market trends.

The main consumers are cutting tool manufacturing, aerospace and defense, electronics, mining equipment, and energy-related industries. Tungsten’s durability and temperature resistance make it essential for high-performance industrial components. Price-Watch™ analyses demand patterns across all these industries.

Tungsten is extracted from mineral ores such as wolframite and scheelite found in different parts of the world. After mining, the ore is refined and processed into forms such as powder, rods, or bars. Major tungsten-producing countries include China, Vietnam, Russia, Bolivia, and Rwanda. These regions play a key role in supplying tungsten to global industrial markets.

China is the largest producer and exporter of tungsten, dominating the global supply chain. Other countries such as Vietnam and Russia also contribute to international exports. Export volumes depend on mining production, government policies, and global demand conditions. Price-Watch™ tracks production levels, export flows and trade patterns to help businesses understand global supply chains and identify sourcing opportunities.

Global tungsten production generally meets long-term industrial demand, but short-term supply tightness can occur. Mining disruptions, environmental regulations, or export restrictions may temporarily affect availability. Sudden increases in industrial demand can also create market pressure. Price-Watch™ monitors these supply-demand imbalances to alert the market about potential shortages or surpluses.

Tungsten bars are available in different grades depending on purity, density, and manufacturing processes. Higher-purity tungsten bars are used in advanced industries such as aerospace, electronics, and precision manufacturing. These grades usually command higher prices due to stricter quality standards. Price-Watch™ provides separate price assessments for each grade to ensure market transparency.

When demand for tungsten bars rises rapidly, supply may tighten in the short term. This can lead to higher prices, reduced spot availability, and longer delivery times for buyers. Producers may increase mining or refining output, but supply expansion takes time. Price-Watch™ captures these market dynamics in real-time.

Tungsten mining and refining require significant amounts of energy. Rising electricity, fuel, or coal costs can increase production expenses for manufacturers. As production costs rise, market prices for tungsten bars may also increase. This is why prices in regions with cheaper electricity tend to be lower, a correlation that Price-Watch™ analyses in its price assessments & market reports.

Regional price differences can occur due to shipping costs, import dependence, local demand, and currency fluctuations. Trade policies and tariffs may also influence tungsten prices in certain markets. Regions closer to mining or refining centers may benefit from lower costs. Price-Watch™ tracks prices across all major regions to highlight these differences.

Tungsten price forecasts are based on factors such as mining output, industrial demand, recycling supply, and global economic conditions. Export policies from major producing countries also play an important role in shaping future prices. Seasonal trends and energy costs may further influence market outlook.

Price-Watch™ regularly publishes detailed forecasts that project price movements for the next 12 months based on comprehensive analysis of supply additions, demand growth in key industries, seasonal patterns, and macroeconomic indicators. Our forecasts help businesses anticipate market conditions and plan accordingly.

Yes, tungsten price forecasts help businesses plan purchasing and inventory strategies more effectively. By understanding expected price trends, companies can negotiate better contracts and manage costs. Forecasts also help reduce the risk of sudden price increases. If Price-Watch™ forecasts predict a price increase in three months, you might choose to stock up now or lock in long-term contracts at current rates, potentially saving thousands of dollars.

Global events such as mining disruptions, geopolitical tensions, trade restrictions, or environmental regulations can affect tungsten supply. These developments may create price volatility or temporary supply shortages. Price-Watch™ provides timely alerts when such events affect the market.

Price-Watch™ collects data from manufacturers, distributors, and buyers worldwide to publish regular price assessments, market reports, and forecasts. Our transparent methodology and comprehensive coverage make us a trusted source for understanding fair pricing and market trends in the Tungsten Bar industry.

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