Ammonium Paratungstate (APT) Prices Remain Stable - August 28, 2026

Analysis of Latest Tungsten Market from Chinatungsten Online

China's tungsten prices showed a generally weak trend this week, with insufficient support from the demand side and cautious trading sentiment in the spot market. 

Market attention has shifted toward the so-called “Golden September” peak season, focusing on the progress of raw material inventory digestion, the pace of downstream procurement volume growth, and the new round of long-term contract quotations from leading tungsten enterprises. Unlike previous situations of overdrawn expectations, current market operations have become more rational, awaiting validation from actual transactions and demand data.

Tungsten concentrate quotations remained relatively firm. Supported by a tight supply side, high-grade prices held steady near RMB 420,000/standard ton. Consumers purchased on an as-needed basis, with limited overall liquidity.

Ammonium paratungstate (APT) prices came under mild downward pressure in line with the long-term procurement prices of major tungsten enterprises, holding steady around RMB 600,000/ton. Currently, external purchasing demand from large enterprises has contracted somewhat, and profit margins in the smelting sector are being squeezed.

Tungsten powder and tungsten carbide powder quotations were maintained at approximately RMB 930/kg and RMB 880/kg, respectively. The market continued to show stable official quotes while actual transaction prices were negotiated privately. Order circulation remained slow, and inventory destocking pressure was evident.

70% ferrotungsten prices edged slightly lower to around RMB 640,000/ton. The stalemate between upstream and downstream players in the industrial chain remained unchanged, with overall circulation dominated by rigid demand.

Scrap tungsten carbide rod prices were in a downward cycle. Influenced by weakened expectations for primary powder prices and insufficient demand support, market negotiations came under pressure. Combined with divergences in psychological price levels between buyers and sellers, trading was cautious and subdued.

International tungsten prices remained at high levels in a stalemate. Although the pace of global mineral development has accelerated somewhat, the shortage of APT smelting capacity remains prominent, and the tight-supply, firm-price pattern continues. However, the European summer holiday season has significantly suppressed overall trading activity, making breakthrough moves unlikely in the short term. European APT prices stood at USD 2,900-3,000/mtu (equivalent to approximately RMB 1.725-1.785 million/ton). European ferrotungsten prices were USD 170-190/kg W (equivalent to approximately RMB 800,000-894,000/ton).

Prices of Tungsten Products on August 28, 2026

Tungsten Price Trend from January to August 2026

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