Tungsten price level – mid‑2026 (APT benchmarks) - Western benchmark APT CIF Rotterdam ~US$3,050/mtu in May 2026 (Shanghai Metals Market, via Critical‑Minerals‑News). - European APT reportedly moved from ~US$1,650/mtu to >US$3,100/mtu in 2026, with ~90% of the increase in ~6 weeks. - IMARC Q1‑2026 average tungsten price indications: USA ~US$111,519/mt; China ~US$112,372/mt; Netherlands ~US$67,261/mt; Germany ~US$101,991/mt. - Earlier March‑2026 press: standard APT quoted in many regions at US$420–460/mtu, but this is before the extreme spike into the $3,000+/mtu Rotterdam range cited by other

Tungsten price level – mid‑2026 (APT benchmarks) - Western benchmark APT CIF Rotterdam ~US$3,050/mtu in May 2026 (Shanghai Metals Market, via Critical‑Minerals‑News). - European APT reportedly moved from ~US$1,650/mtu to >US$3,100/mtu in 2026, with ~90% of the increase in ~6 weeks. - IMARC Q1‑2026 average tungsten price indications: USA ~US$111,519/mt; China ~US$112,372/mt; Netherlands ~US$67,261/mt; Germany ~US$101,991/mt.

- Earlier March‑2026 press: standard APT quoted in many regions at US$420–460/mtu, but this is before the extreme spike into the $3,000+/mtu Rotterdam range cited by other sources; it nonetheless shows a structural move far above pre‑2025 averages (~$300/mtu). Recent price trajectory - Prices for concentrates, APT and powder have “multiplied by up to 110%” since the start of 2026 and are “testing record highs,” driven by Chinese quotas, declining ore grades, and surging high‑tech/defense demand.

- European APT prices nearly doubled in a few weeks in early 2026 (to >$3,100/mtu). - Multiple independent analyses label 2026 as a “new high‑price era” or “supercycle,” with derivatives having gained >200% during 2025 and further sharp gains in 2026.

Supply side – key constraints - China controls roughly 80% of global mine supply and dominates APT, powder and carbide processing; 2025–26 export quota cuts and licensing restrictions severely reduced flows, at times taking some APT export streams to zero. - Only 15 Chinese companies are authorized to export tungsten

What this means for buyers

Procurement teams should maintain flexible sourcing strategies for Tungsten given the evolving market dynamics. Monitor supply-side developments, inventory trends, and demand signals from end-use sectors. Consider layered hedging against price volatility and diversify supplier exposure to manage risk.