News

In the oil & gas sector, cemented carbide (tungsten carbide) is often the silent workhorse behind extreme operating conditions. From ESP shaft sleeves and wear-resistant seals to downhole drilling components, its performance directly affects equipment reliability, maintenance intervals, and operational efficiency. Over the past year, however, increasing volatility in tungsten carbide raw material prices has become a growing concern across the industry.

In today’s manufacturing landscape, competitiveness is no longer defined solely by production capacity or material performance. It is increasingly shaped by how effectively organizations integrate materials expertise with intelligent systems, data-driven decision-making, and scalable operational models. At TUNGSTEC, we are actively moving in this direction—embedding Artificial Intelligence (AI) and data analytics into our core operational framework. This is not simply a digital upgrade, but a structural transformation in how we operate, decide, and grow.

The global tungsten market has entered a noticeably weaker phase in recent months, with both tungsten powder and tungsten carbide powder prices continuing to decline at an accelerated pace. Recent market data shows: Tungsten powder prices have fallen 56.3% from the recent peak, and are down 2.8% year-to-date Tungsten carbide powder prices have dropped 57.3% from the recent peak, down 3.9% year-to-date This sharp correction signals that the market is no longer in a gradual adjustment phase, but rather in a more aggressive downward cycle driven by weakening demand fundamentals.

After a prolonged upward cycle, tungsten prices have recently begun to soften. While the correction may appear sudden, the reality is more nuanced: the market is responding to a combination of changing demand behavior, supply adjustments, and cooling sentiment across the industry. For companies involved in cemented carbide, cutting tools, wear-resistant components, and oil & gas applications, this shift is an important reminder that tungsten remains one of the most strategically sensitive industrial materials in the global supply chain.