APT and Tungsten Powder Prices Under Pressure - October 10, 2026

Analysis of Latest Tungsten Market from Chinatungsten Online

Tungsten prices remain in a weak adjustment phase, with relatively slow demand digestion, persistently quiet spot transactions, and market confidence is in urgent need of repair.

The tungsten concentrate market continues its weak trend, with mainstream negotiated prices for 55% grade material roughly in the range of RMB 330,000-350,000/standard ton. Downstream end-users show insufficient initiative in procurement, and both market inquiries and actual deals remain subdued, with participants watching the results of mine auction sales. The downward shift in raw material prices has somewhat weakened cost support for the midstream and downstream segments.

Operating rates in the smelting and powder segments overall remain at low levels. The marginal weakening of cost support, lukewarm demand feedback, and poor confidence reinforce one another. Intermediate traders show low enthusiasm for stockpiling and trade cautiously on an as-needed basis. Ammonium paratungstate (APT) is quoted at approximately RMB 500,000-530,000/ton, tungsten powder at about RMB 800,000-820,000/ton, and tungsten carbide powder at about RMB 770,000-790,000/ton.

In the cemented carbide sector, end-user consumption is released cautiously, and distributors are reluctant to build inventories. Under the dominance of fear of further price declines, market buying interest is weak, and raw material purchases are mostly limited to small rigid-demand orders. Affected by overall weakness in downstream orders from alloys, batteries and other sectors, cobalt powder prices are similarly soft and have continued to drift downward to around RMB 350,000/ton, with a cumulative decline of nearly 40% in this round.

Scrap tungsten continues to exhibit a buyer’s market. Lacking support from large-scale orders and with the subdued atmosphere from the raw-material end transmitting downstream, the overall negotiated price remains under pressure. Holders, facing differing cost and funding pressures, display mixed attitudes of dumping and reluctance to sell. Recyclers are also cautious in taking in material, and overall market liquidity is limited.

Prices of Tungsten Products on October 10, 2026

Tungsten Price Trend from January to October 2026

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