What Happened to Tungsten Prices in Q2 2025? A Complete Breakdown

05-Aug-2025

The tungsten market is witnessing substantial fluctuations during Q2 2025, impacted by disruptions in supply, rising energy costs, and fluctuating demand from key industries. IMARC Group’s latest publication, Tungsten Prices, Trend, Index and Forecast Data Report 2025 Edition, provides updated insights for Q2 2025 regarding global tungsten price trend and regional dynamics. It covers detailed forecasts, historical pricing data, and factors influencing market behavior across regions such as North America, Europe, Asia Pacific, and others.

Q2 2025 Tungsten Prices:

USA: USD 88,805/MT
China: USD 52,510/MT
Netherlands: USD 45,455/MT
South Korea: USD 43,767/MT
United Kingdom: USD 53,395/MT

Q2 2025 Tungsten Prices

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The second quarter of 2025 shows significant price fluctuations in the tungsten market, driven by a variety of global factors including changes in supply chain dynamics, geopolitical challenges, and demand from key sectors like aerospace, electronics, and automotive. This trend has been especially notable in regions with tight supply chains and higher procurement costs for industries heavily reliant on tungsten, such as precision tooling and defense.

Key Regional Price Trends and Market Drivers:

USA

In Q2 2025, tungsten prices in the USA reached USD 88,805/MT. This increase is largely attributed to fluctuations in domestic mining output, particularly from secondary producers, and heightened demand from the defense and aerospace sectors. Additionally, the USA’s dependence on tungsten imports from Asia has been affected by delays in shipping, increasing freight charges, and rising energy costs that have affected the entire supply chain.

China

In China, tungsten prices hit USD 52,510/MT in Q2 2025. The primary factors driving this rise include stricter environmental regulations that have led to production slowdowns in major mining provinces. Despite stable demand from the manufacturing and electronics sectors, the country faced difficulties with export volumes, which were affected by new global trade preferences and increasing production costs due to rising electricity prices in key mining regions.

Netherlands

Tungsten prices in the Netherlands reached USD 45,455/MT in Q2 2025. Elevated demand from the precision tooling and semiconductor sectors significantly impacted prices. As the Netherlands relies heavily on imported tungsten intermediates, local prices were subjected to fluctuations in currency exchange rates and extended lead times. Additionally, tighter EU regulations on critical raw materials led to increased warehousing and handling costs, further affecting pricing.

South Korea

Tungsten prices in South Korea reached USD 43,767/MT in Q2 2025, primarily influenced by demand from the automotive and electronics sectors. The need for tungsten in superalloys and hard metal applications drove prices upward. Supply chain constraints due to port congestion, regulatory delays, and limited recycling volumes, combined with rising energy tariffs, contributed to higher domestic processing costs for tungsten carbide powders.

United Kingdom

In the UK, tungsten prices reached USD 53,395/MT in Q2 2025. The price increase is primarily the result of supply chain issues from key European and Asian exporters, combined with higher customs clearance costs post-Brexit. The steady demand from the defense, aerospace, and advanced engineering sectors remains a key driver, though domestic recyclers have faced challenges in securing consistent scrap flows, further driving price volatility.

Tungsten Industry Overview:

The global tungsten market reached a volume of 79,794.0 Tons in 2024 and is expected to grow to 97,915.4 Tons by 2033, with a CAGR of 2.19% during 2025-2033. Tungsten is widely used in industries such as aerospace, automotive, electronics, and medical equipment due to its high melting point, durability, and density. Its increasing use in high-performance applications, such as engine components, electronics, and energy-efficient lighting, is driving market growth.

Additionally, the demand for tungsten-based alloys is expected to rise as industries focus on improving product durability and performance. The growing importance of tungsten in industries like defense and electronics is also a result of its unique properties, which make it an essential component for producing cutting-edge technologies. Furthermore, as governments around the world continue to focus on sustainability and energy efficiency, the demand for tungsten in renewable energy technologies such as wind turbines and solar energy systems is poised to increase, providing new opportunities for market expansion.

Recent Market Trends and Industry Analysis:

Tungsten demand is primarily driven by its use in high-performance sectors such as aerospace, automotive, and electronics. In the aerospace sector, there is an increasing need for heat-resistant alloys, which has spurred demand for tungsten. The automotive industry has also seen a rise in tungsten use, particularly in engine parts and tire balancing weights. Moreover, tungsten's application in energy-efficient lighting systems and medical devices is contributing to growth. Emerging applications in 3D printing and renewable energy are also expected to further boost demand.

The rising focus on sustainability, where the recycling of tungsten from end-of-life products and industrial scrap is gaining momentum in the market. As industries face growing pressure to reduce their environmental footprint, the reuse of tungsten will become an essential part of the supply chain, providing a more sustainable and cost-effective alternative to traditional mining. This shift towards recycled tungsten is expected to impact global pricing and demand patterns, offering new opportunities for players in the tungsten recycling market.

Strategic Forecasting and Analysis:

IMARC’s report incorporates forecasting models that project near-term price movements based on evolving trade policies, raw material supply, and technological trends. These tools enable businesses to mitigate risk, enhance sourcing strategies, and support long-term planning.

Key Features of the Report:

Price Charts and Historical Data
FOB and CIF Spot Pricing
Regional Demand-Supply Assessments
Port-Level Price Analysis
Sector-Specific Demand and Supply Insights

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