Reading a quote step by step
An APT quote is unreadable until you find four things in it.
- Find the material. Concentrate and APT are different products with different prices.
- Find the unit. “Per mtu” is one metric ton unit of contained oxide, not a tonne of material.
- Find the market. Rotterdam and China-domestic prices are not the same number.
- Find the date. These prices move daily, and an undated price is not a quote.
What an APT price does not tell you
An APT price is a metal price, not a part price.
- It is not the price of tungsten carbide powder, inserts or finished edges. Those add processing, cobalt binder, manufacturing, tooling, quality control and freight.
- It does not set your supplier’s price directly. Suppliers buy ahead, hold stock and may reprice on their own schedule.
- It cannot tell you your next quote, only the direction of one input cost.
Where to read the numbers
USGS publishes an annual summary, with Rotterdam price data from Argus, and trade publications such as Fastmarkets report weekly assessments. Read the original, check the unit and the date, and note the market. For our own reading of recent price reports, see the related articles on APT and on the China-domestic gap.
A short checklist for your notes
| Field | Example of what to record |
|---|---|
| Material | APT or concentrate |
| Unit | per mtu WO3 |
| Market | Rotterdam, China-domestic, other |
| Date and source | Publisher and publication date |
| Your supplier’s response | Date they changed or held price |
As of the query date (October 24, 2026), figures change often; check the sources for current numbers.
Boundary: this article explains terms from public sources and does not predict prices. The price is for raw material, not for finished edges.
Sources and further reading. External references are dated; where a figure is quoted, the link shows where it came from.
U.S. Geological Survey: Mineral Commodity Summaries 2026: Tungsten (2026) ↗Fastmarkets: Tungsten markets fragmenting as domestic Chinese APT market diverges from exports (2026-06-29) ↗The Cost of Downtime in a Plow Fleet: Putting a Number on a Lost Shift ↗Plow Feet vs Skid Shoes: Getting the Terminology and Hardware Right ↗Tungsten carbide inserts for snow plow edges ↗China’s Tungsten Export Licences: A Buyer’s Timeline From February 2025 to 2026 ↗The Forced-Labor Section 301 Duty: Who Pays, Which Goods, Which Dates ↗Who Mines Tungsten? Reading the USGS 2026 Summary for Procurement Risk ↗
