20/05/2026
Tungsten powder: a 8x rally, then a sharp drop – but don't call it normal.
Let's rewind.
📆 Mar. 2025 – March 2026
Tungsten powder prices surged nearly 8 times.
Manufacturers of cemented carbide, cutting tools, and wear parts faced extreme margin pressure, panic buying, and supply uncertainty.
📉 Now (May 2026)
Prices have corrected back to February 2026 levels. That feels like relief – until you look at the bigger picture.
⚠️ Compared to the same period last year (May 2025) , prices are still 5 times higher.
And here's the real challenge: No one knows what comes next!
Will prices slide further?
Or spike again – driven by export controls, supply concentration, or renewed panic?
The biggest risk today is not high prices or low prices.
It's unpredictable, unstable prices – with no clear trend line.
For procurement and supply chain leaders:
✅ A lower price today is tempting, but locking in long-term commitments is a bet.
✅ Flexibility – shorter contracts, variable volumes, alternative sources – is the only real hedge.
✅ Watch policy signals like a hawk. This market remains thin and sentiment-driven.
How are you navigating tungsten's volatility right now? Let's discuss.
