China Ammonium Paratungstate Prices Fall 30.5% in May 2026, Here is why

China's Ammonium Paratungstate market weakened sharply through May 2026 as buyers pulled back and inventories built, prompting a pronounced downward correction. Early May saw improved product availability and rising inventories while purchasing activity remained subdued. By mid-May, output was outpacing immediate consumption, triggering aggressive price reductions to stimulate demand. In late May, downstream buyers largely delayed procurement decisions and limited spot purchases, reducing market liquidity and accelerating the downtrend for ex-Ganzhou. Downstream demand patterns amplified the price slide, with cemented carbide, alloy, metalworking, mining tools and industrial machinery sectors holding back and relying on existing inventories. Export buyers showed limited momentum as well. On the supply side, processing hubs maintained stable operations and inventories accumulated, with Ganzhou facilities APT running to preserve throughput, pressuring sellers APT to offer reduced margins. Looking ahead, the market is expected to see further near-term downside before a gradual recovery, with a seasonal rebound anticipated in the September–October window that could support consumption and restocking.