The left-back's second spell with the Addicks expired after last week's win at Yeovil and he is now back at Upton Park.
But Powell remains in negotiations with the Hammers over a new deal, although it is unlikely Fry will be back in time for Saturday's clash with Peterborough.
"We are in discussions with them to try and get him back," confirmed Powell.
On-loan Leeds defender Federico Bassone is likely to take Fry's place against Posh.
Source: PA
Source: PA