Research indicates that tungsten prices, a key component in tungsten carbide (tungsten steel) for hard alloy blades, have surged approximately 80-95% since early 2025, driven primarily by China's export restrictions and reduced mining output, with ammonium paratungstate (APT) reaching $535-550 per metric ton unit (mtu) in Europe and the US, and even higher in China at around $655/mtu.
Evidence suggests the price volatility is likely to persist through 2025-2026, with forecasts pointing to a new price floor of $400-450/mtu, influenced by global supply shortages and increasing demand from defense, aerospace, and tooling sectors.
LUK Knives remains committed to ensuring reliable supply and consistent quality, even in a challenging raw material environment. By improving efficiency and leveraging long-term supply partnerships, the company continues to deliver high-performance machine knife to customers worldwide.
