Sentiment recovered notably, with the price centers of raw materials and scrap moving upward in resonance [European Tungsten Market Weekly Review]

Published: Nov 05, 2026 19:27 (GMT+8)

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[European Tungsten Market Weekly Review: Sentiment Recovers Significantly, Raw Material and Scrap Price Centers Rise in Tandem]

SMM, November 5:

This week, European APT offers held at $2,500-3,100/mtu, flat WoW, but market sentiment showed a clear recovery. Driven by the continued rise in Chinese tungsten prices and the approaching end-user stockpiling cycle, downstream acceptance of high-priced APT improved somewhat. Long-term contract prices remained firm above $3,000/mtu, spot order offers were scarce, and suppliers showed a strong willingness to hold prices firm. The market currently relies heavily on sentiment and indicative price assessments, and the price center felt slightly raised. Although actual spot transactions remained limited, overall market confidence is recovering.

In the scrap market, Indian scrap tungsten prices saw a notable surge this week. Indian scrap tungsten alloy blade FOB offers rose to $75-95/kg, up $18.5/kg WoW; scrap tungsten drill bit FOB offers rose to $85-105/kg, up $23.5/kg WoW. This round of gains in the Indian market was mainly driven by the spillover of Chinese price-increase sentiment, with some traders beginning early stockpiling and riding the trend to push up market prices. However, given the rapid price increases, the strength of actual end-user demand still needs further field observation.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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