Ferro Tungsten Price Trend and Forecast 2026-2027

The United States paid the most for ferro tungsten in Q3 2026: USD 60.00/KG, up 1.5% from USD 59.11/KG in Q2. Import costs, tariffs and steady demand from tool and aerospace makers keep American prices above the other three markets. Worldwide, the average rose 1.4% to USD 52.75/KG from USD 52.02/KG, mostly because higher tungsten concentrate costs and firm demand from tool and steel makers led producers and traders to raise prices in all four markets. What about Q4 2026? We expect a global average somewhere in the USD 51.43-55.65/KG range, with tungsten concentrate prices, Chinese export controls, demand from tool and steel makers and energy costs doing most of the work.

Ferro tungsten is an alloy of iron and tungsten, usually with about 70 to 80 percent tungsten. Steel makers add it to produce tool steel, high speed steel and wear-resistant alloys used in cutting tools, drills and dies. Prices in this report refer to 70 percent ferro tungsten and are quoted per kilogram of contained tungsten. They depend on tungsten concentrate prices, export controls and demand from tool and steel makers.

China makes most of the world supply, with smaller output from Vietnam, Russia and Austria. Producers reduce tungsten concentrate or oxide with iron in electric furnaces. Concentrate supply is limited because few mines operate, and Chinese quotas and export controls affect trade. Buyers in Europe, Japan and North America depend on imports and often hold stocks.

Ferro Tungsten Price Forecast for 2026

Prices should rise modestly through the rest of 2026. Concentrate costs are firm and demand from tool and steel makers is steady. Stocks held by buyers limit the size of the increase. A year ago the global average was USD 50.45/KG, and the latest quarter, at USD 52.75/KG, is 4.6% higher.

The risks for Q4 are balanced, with no clear tilt either way. What could push prices higher? Tighter export controls, mine disruptions or stronger demand from tool makers would lift prices. What could pull them lower? Looser export rules, larger concentrate supplies or weaker steel output would lower prices.

For the Quarter Ending September 2026

Ferro Tungsten Prices Q3 2026:

• China: USD 46.00/KG
• Vietnam: USD 49.00/KG
• Germany: USD 56.00/KG
• United States: USD 60.00/KG

Ferro Tungsten Prices in China

China's average moved up 1.6% in Q3 2026, to USD 46.00/KG from USD 45.28/KG in Q2. Chinese prices rose as the demand from steel and tool makers improved. The year-on-year change is a 5.2% increase, from USD 43.71/KG in Q3 2025. This places China 12.8% below the four-market average of USD 52.75/KG for Q3 2026.

Why did the price of Ferro Tungsten change in Q3 2026 in China?

China rose. Demand from steel and tool makers improved, tungsten concentrate costs increased, and producers raised prices. This leaves China 3.7% higher than at the end of 2025, when the average was USD 44.34/KG, while the global average is 3.3% higher over the same period. Across the four markets the average was 1.4% higher on the quarter.

Ferro Tungsten Prices in Vietnam

Prices in Vietnam firmed 1.3% in Q3 2026 to USD 49.00/KG, compared with USD 48.37/KG in Q2. Vietnamese prices rose as the demand from export buyers improved. The Q3 2026 average is 4.4% above the USD 46.95/KG recorded in Q3 2025. Against the four-market average of USD 52.75/KG, Vietnam stood 7.1% below in the quarter.

Why did the price of Ferro Tungsten change in Q3 2026 in Vietnam?

Vietnam rose. Demand from export buyers improved, tungsten concentrate costs increased, and producers raised offers. From USD 47.51/KG at the close of 2025 to USD 49.00/KG in Q3 2026, the price in Vietnam has risen 3.1%, and the global average has risen 3.3%. On the global measure the average was 1.4% higher over the quarter.

Ferro Tungsten Prices in Germany

Germany recorded a 1.2% gain in Q3 2026, with the average reaching USD 56.00/KG against USD 55.34/KG in Q2. German prices rose as the demand from tool and steel makers improved. Compared with Q3 2025, when Germany averaged USD 53.94/KG, the current price is 3.8% higher. Germany finished Q3 2026 6.2% above the four-market average of USD 52.75/KG.

Why did the price of Ferro Tungsten change in Q3 2026 in Germany?

Germany rose. Demand from tool and steel makers improved, import costs increased, and traders raised prices. Across the first three quarters of 2026, Germany has moved up 2.8% from USD 54.46/KG in Q4 2025 to USD 56.00/KG, against a 3.3% gain for the global average. For comparison, the global average moved 1.4% higher over the same quarter.

Ferro Tungsten Prices in United States

The Q3 2026 average for the United States stood at USD 60.00/KG, an increase of 1.5% on the USD 59.11/KG recorded in Q2. American prices rose as the demand from tool and aerospace makers improved. Measured against Q3 2025, when the average stood at USD 57.19/KG, the market is 4.9% higher. The four markets averaged USD 52.75/KG in the quarter, so the price in the United States was 13.7% higher.

Why did the price of Ferro Tungsten change in Q3 2026 in United States?

The United States rose. Demand from tool and aerospace makers improved, import costs increased, and traders raised prices. Year to date, the United States is 3.4% higher than the Q4 2025 level of USD 58.01/KG, while the global average is 3.3% higher. The global average shifted 1.4% higher in the same quarter.

For the Quarter Ending June 2026

Ferro Tungsten Prices Q2 2026:

• China: USD 45.28/KG
• Vietnam: USD 48.37/KG
• Germany: USD 55.34/KG
• United States: USD 59.11/KG

Ferro Tungsten Prices in China

The Q2 2026 average for China stood at USD 45.28/KG, an increase of 1.2% on the USD 44.74/KG recorded in Q1. Chinese prices rose as the demand from steel makers strengthened. Year on year, the average is 6.0% higher, against USD 42.71/KG in Q2 2025. The price in China was 13.0% below the group average of USD 52.02/KG in Q2 2026.

Why did the price of Ferro Tungsten change in Q2 2026 in China?

China rose. Demand from steel makers strengthened, tungsten concentrate costs went up, and producers lifted prices. After a 0.9% gain in Q1, the quarter closed 6.0% above the USD 42.71/KG recorded in Q2 2025. The same direction continued in Q3, with the price reaching USD 46.00/KG. The global average shifted 1.0% higher in the same quarter.

Ferro Tungsten Prices in Vietnam

Vietnam registered a 1.0% increase in Q2 2026, taking the average to USD 48.37/KG from USD 47.89/KG in Q1. Vietnamese prices rose as the demand from export buyers strengthened. The current level is 5.1% above the Q2 2025 average of USD 46.04/KG. The gap to the four-market average of USD 52.02/KG was 7.0% below for Vietnam.

Why did the price of Ferro Tungsten change in Q2 2026 in Vietnam?

Vietnam rose. Demand from export buyers strengthened, energy costs went up, and producers lifted offers. This came on top of a 0.8% gain in Q1, and the average ended 5.1% above its level of a year earlier, when it stood at USD 46.04/KG. Q3 added to the change, with the price at USD 49.00/KG.

Ferro Tungsten Prices in Germany

Germany firmed 0.9% to USD 55.34/KG in Q2 2026, from USD 54.84/KG in Q1. German prices rose as the demand from tool makers strengthened. A year earlier, in Q2 2025, the average stood at USD 53.10/KG, which makes the current price 4.2% higher. Relative to the four-market average of USD 52.02/KG, Germany traded 6.4% above in Q2 2026.

Why did the price of Ferro Tungsten change in Q2 2026 in Germany?

Germany rose. Demand from tool makers strengthened, energy costs went up, and traders lifted prices. Q1 had brought a 0.7% gain, and by the end of Q2 the price was 4.2% above the Q2 2025 average of USD 53.10/KG. The move then extended in Q3, taking the price to USD 56.00/KG. On the global measure the average was 1.0% higher over the quarter.

Ferro Tungsten Prices in United States

In Q2 2026, the average price in the United States rose 1.1% to USD 59.11/KG, compared with USD 58.47/KG in Q1. American prices rose as the demand from tool makers strengthened. Taking Q2 2025 as the base, at USD 55.87/KG, the latest quarter is 5.8% higher. This places the United States 13.6% above the four-market average of USD 52.02/KG for Q2 2026.

Why did the price of Ferro Tungsten change in Q2 2026 in United States?

The United States rose. Demand from tool makers strengthened, tariff costs went up, and traders lifted prices. Coming after a 0.8% gain in Q1, the Q2 figure sits 5.8% above the USD 55.87/KG of Q2 2025. The same direction continued in Q3, with the price reaching USD 60.00/KG. For comparison, the global average moved 1.0% higher over the same quarter.

Quarterly Ferro Tungsten Price Trends

Ferro Tungsten prices rose through 2025 and the first half of 2026 and rose again in the third quarter in all four markets. The global average moved from USD 48.54/KG in Q1 2025 to 49.43 in Q2, 50.45 in Q3 and 51.08 in Q4, then 51.48 in Q1 2026, 52.02 in Q2 and 52.75 in Q3, a net gain of roughly 8.7% across the window. Higher tungsten concentrate costs and steady demand from tool and steel makers lifted prices for six quarters.

What was Ferro Tungsten Price in 2025?

2025 was a year of steady increases for ferro tungsten, with prices rising in each quarter in all four markets. Starting near USD 48.54/KG in Q1, the global average finished the year at 51.08 in Q4, a gain of about 5.2%. Higher tungsten concentrate costs and steady demand from tool and steel makers supported producers throughout the year.

Ferro Tungsten Prices in China in 2025

In China, prices moved from about USD 41.83/KG in Q1 2025 to USD 44.34/KG by Q4, up roughly 6.0%. Chinese prices rose steadily as tungsten concentrate costs and demand from steel makers increased. The Q4 2025 close of USD 44.34/KG compares with USD 46.00/KG in Q3 2026, a 3.7% increase. The quarterly sections above show how the annual average developed over the year.

Ferro Tungsten Prices in Vietnam in 2025

In Vietnam, prices moved from about USD 45.25/KG in Q1 2025 to USD 47.51/KG by Q4, up roughly 5.0%. Vietnamese prices rose gradually as the energy costs and demand from export buyers increased. Relative to the end of 2025, the price in Vietnam is 3.1% higher at USD 49.00/KG. The quarterly breakdown above allows each stage of that path to be traced.

Ferro Tungsten Prices in Germany in 2025

In Germany, prices moved from about USD 52.37/KG in Q1 2025 to USD 54.46/KG by Q4, up roughly 4.0%. German prices rose gradually as the energy costs and demand from tool makers increased. By Q3 2026 the average for Germany had reached USD 56.00/KG, 2.8% above the Q4 2025 close. The same regional pattern is carried into the quarterly analysis above, where the quarter-by-quarter figures can be traced.

Ferro Tungsten Prices in United States in 2025

In the United States, prices moved from about USD 54.72/KG in Q1 2025 to USD 58.01/KG by Q4, up roughly 6.0%. American prices rose steadily as tariff costs and demand from tool makers increased. The latest quarter places the United States at USD 60.00/KG, which is 3.4% above the level at which 2025 ended.

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We keep a continuous eye on ferro tungsten prices wherever it is produced or consumed at scale, tracing causation through tungsten concentrate prices, export controls, energy costs, stocks and demand from tool, steel and aerospace makers. Our forecasts draw on production data, trade flows, input cost trends and demand indicators across all reporting regions, so subscribers see why a price moved and not just that it did. Need pricing data, bespoke market analysis, or procurement advisory? Reach out to our team.