2025 carbide raw material increasing until 19th Nov

As of November 19, 2025, the price of scrap tungsten rods was 470 yuan/kg, up 113.6% from the beginning of the year. The price of scrap tungsten drill bits was 437 yuan/kg, up 91.7% from the beginning of the year.

Many traders holding scrap tungsten steel materials are still waiting for higher prices before selling, while traders with immediate needs have already cashed out. The price of tungsten powder was 770 yuan/kg, up 143.7% from the beginning of the year. The price of tungsten carbide powder was 740 yuan/kg, up 137.9% from the beginning of the year.

Tungsten prices maintained a steady upward trend, driven primarily by tight supply, cost support, and market sentiment. While demand was supported by immediate needs, the pace of end-user release was slow, and high-price transactions faced significant resistance. The entire industry chain was mainly driven by demand. Downstream tungsten steel tool manufacturers experienced a decrease in orders, with many end-users unable to accept high prices because the cost of tools had increased while the final product price had not. This led to many tool users re-sharpening and reusing their tungsten steel tools.