APT and Tungsten Powder Prices Decline - September 24, 2026

Analysis of Latest Tungsten Market from Chinatungsten Online

Domestic tungsten prices saw a gradual decline this week. This was driven by pre-holiday demand falling short of expectations and some holders offering price concessions to cash out and alleviate capital turnover pressures. Market confidence wavered, pushing down the room for price negotiation on spot goods. With the Mid-Autumn Festival approaching, trading is sluggish, and participants are watching to see how restocking demand unfolds after the National Day holiday.

In the tungsten concentrate market, capital pressures drove an increase in supply volume, yet demand feedback remained weak. With limited market liquidity, prices consolidated on the soft side, with 55% tungsten concentrate hovering in the range of RMB 375,000-395,000/standard ton.

The ammonium paratungstate (APT) market remained under significant margin-squeeze pressure, leading to many producers remained offline for maintenance. Market liquidity was slow, and APT quotes stood at approximately RMB 570,000-580,000/ton, with actual transactions mostly occurring near the lower end of this range.

In the tungsten powder market, weak demand combined with risk-averse sentiment resulted in low operating rates. Mainstream negotiated prices for tungsten powder were RMB 850-880/kg, while tungsten carbide powder prices were around RMB 820-840/kg. Cemented carbide enterprises adopted a cautious back-to-back approach. Influenced by the "buy up not down" mentality and holiday factors, many orders were delayed, and procurement was limited to sporadic, essential needs.

In the cobalt powder market, the lack of significant improvement in downstream applications, such as cemented carbide, ternary batteries, and consumer electronics, weighed on trading confidence, causing prices to adjust downward to around RMB 390/kg.

In the ferrotungsten market, upstream concentrate prices stayed soft while steel mills showed only limited purchasing initiative. The market continued to follow the prevailing trend and adjusted mildly lower in the short term, with 70% ferrotungsten falling back to the RMB 600,000/ton level.

In the tungsten waste and scrap market, after nearly a week of disorderly downward pressure, market sentiment gradually returned to a more rational footing and the negotiation floor found some modest support. Nevertheless, the weak atmosphere in primary materials and insufficient consumption momentum from alloy plants left buying and selling confidence cautious and subdued. The market remained in a state of weak stability and watchful waiting.

Prices of Tungsten Products on September 24, 2026

Tungsten Price Trend from January to September 2026

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