Tungsten carbide powder prices in China soared over 125% in 2025 due to supply cuts and strong demand from key industries.

In November 2025, tungsten carbide powder prices in China surged to about 700 RMB per kilogram ($100), a rise of over 125% from the year’s start and a 9.3% weekly increase. Driven by production restrictions on black tungsten concentrate and strong demand from new energy, military, and traditional tool sectors, the annual average price is projected to climb from 300 RMB/kg in 2024 to 700 RMB/kg in 2025. Export prices ranged from 615 to 625 RMB/kg for medium particle powder and 660 RMB/kg for high-purity grades.