Global Tungsten Supply Tightens Further as Demand Continues to Rise
Jan 20, 2026|
View:188Recent industry data indicates that China’s tungsten supply is expected to tighten further, while downstream demand continues to expand across multiple key sectors.
On the demand side, photovoltaic products are projected to maintain steady growth next year, driven by ongoing global energy transition. At the same time, lithium tungstate batteries are experiencing rapid expansion, becoming an emerging source of incremental tungsten consumption. In addition, weapons and equipment manufacturing remains a strong and stable demand sector, particularly for high-performance tungsten carbide tools and wear-resistant components.
According to industry estimates, the global tungsten supply gap is expected to reach 20,000–30,000 tons per year during 2026–2027. This imbalance is mainly attributed to limited mining output, strict resource controls, and continuously increasing downstream demand, leaving little room for supply-side expansion.
As a result, prices of tungsten carbide and tungsten steel products are expected to rise further. Market forecasts suggest that tungsten steel prices could reach RMB 1,600–1,800 per kg during 2026–2027, significantly increasing cost pressure for downstream manufacturers.
Recommendation to Customers
Given the clear tightening trend in supply and the strong upward price outlook, we strongly recommend customers:
Stop waiting and place orders as early as possible
Lock in current prices to reduce future cost risks
Plan procurement for 2026 and beyond in advance to ensure stable supply
Contact suppliers early to secure production capacity and delivery schedules
Tungsten is a strategic metal, and once prices enter an upward cycle, price corrections are usually limited and short-lived. Placing orders now is the most effective way to protect your cost structure in the coming years.
For latest pricing, inventory availability, or long-term supply agreements, please contact us as soon as possible.
