Two Tungsten Prices: Why China-Domestic and Export Quotes Diverge

Scenario: a supplier quotes a carbide insert price tied to tungsten, and you see two very different tungsten prices in the news. Direct answer: they are different markets. A Fastmarkets report dated 29 June 2026 says Chinese domestic and export prices for APT (ammonium paratungstate) have begun to decouple as export controls limit the flow of material. That report is dated and from the trade press; check for newer information before relying on it.

What the report says

The report quotes both prices with dates and units, which is what makes it usable as a benchmark rather than a headline.

• It describes domestic and export APT prices as having begun to diverge in recent weeks, while export-market prices such as FOB China and CIF Rotterdam/Baltimore remain closely linked to each other.
• For export APT (88.5% WO3 min, FOB main ports China), it cites $2,600 to $3,250 per mtu WO3 on 24 June, which the report says is up about 631% from $390 to $410 a year earlier.
• It quotes trade sources saying Chinese domestic APT dropped to about $1,200 to $1,300 per mtu WO3 during June.
• It reports a tungsten concentrate assessment in China of 500,000 to 525,000 yuan per tonne on 24 June, down about 50% from an all-time high set on 11 March.
• It quotes market participants attributing the split to export licensing limiting the flow of material, and says that buyers outside China are paying more to secure supply.

What it does not say

The report quotes a metal price, not a part price.

• It does not give the price of a carbide insert or of a plow edge.
• It does not say how much of any supplier’s price is tungsten.
• It does not forecast prices; quoted participants give opinions on how long the gap may last.

Questions for your supplier

Two published tungsten prices can differ by a wide margin, and which one sits behind your quote changes the risk you carry. Four questions get to the basis.

1. Which tungsten price basis, if any, do you use when you set your quote? If the answer is “the market”, ask which market and which publication.
2. How much of the quote is tungsten content, and how often do you reprice? The share tells you how much of the price can move without notice.
3. Where does your material come from, and does supply depend on export licences? Origin and licensing are the two constraints that turn a price change into a delivery change.
4. How long is the quote valid? A validity period is a risk allocation, and it should be in writing.

Boundary: The figures are from a Fastmarkets article dated 29 June 2026 and may be out of date; they are not forecasts and not insert or edge prices. Check for newer information.