Ammonium Paratungstate (APT) Operating Rate Declines - September 8, 2026

Analysis of Latest Tungsten Market from Chinatungsten Online

Yesterday, an industry association and a major tungsten enterprise in Jiangxi successively released guidance prices, which broadly aligned with the current narrow-range fluctuating market conditions. Wait-and-see sentiment continues to dominate the tungsten market. The actual execution of long-term contract quotations after their release, as well as the pace of spot circulation, still require further observation and verification.

The tungsten concentrate market remains in a supply-demand stalemate, with prices showing a “neither high nor low” pattern. Negotiated prices for 55% grade tungsten concentrate hover around RMB 410,000/standard ton, with deals mainly concluded through negotiation. Attention in the near term will be on the progress of mining enterprises’ auction sales.

The ammonium paratungstate (APT) market is under significant margin squeeze pressure. Upstream costs have been difficult to effectively pass on to the limited downstream demand. Some smelters have proactively reduced operating rate to ease the pressure. Market negotiation ranges are concentrated at RMB 590,000–600,000/ton.

The tungsten powder market remains in a destocking phase. The industry association’s quotation of RMB 930/kg has provided a certain boost to market confidence, with some low-end negotiated prices showing slight upward adjustments. However, downstream acceptance willingness and the actual realization of market transactions still need further observation.

The ferrotungsten market has overall operated steadily, with quotations largely following market conditions. The price of 70% ferrotungsten stands at approximately RMB 640,000/ton. The game between upstream and downstream players along the industrial chain remains inconclusive, and transactions continue to be driven by essential demand.

Liquidity in the tungsten scrap market remains constrained, partly due to a gap in price expectations between buyers and sellers, and partly because end-users lack initiative in inventory replenishment. Recent market conditions have been under relative pressure.

Prices of Tungsten Products on September 8, 2026

Tungsten Price Trend from January to September 2026

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