Xinyu Longteng Fushun Tendered a Total of 184 mt of Ferromolybdenum on June 1

In May, European APT prices held firm above $3,000/mtu amid tight supply, while scrap tungsten dropped sharply. China's tungsten prices rebounded late in the month as sentiment improved, though downstream demand remained soft. A cautious bottoming trend emerged.

[Tungsten News Flash] SMM June 1: At the start of the week, the tungsten market mainly fluctuated upward. Upstream suppliers were bullish with firm offers. Downstream powder and cemented carbide plants actively inquired for restocking, and market transactions were active. Mainstream downstream enterprises actively picked up goods under long-term contract supply. In addition, enterprises supplemented with spot order procurement, and overall procurement volume increased notably. SMM 65% wolframite concentrates closed at 434,500 yuan/standard tonne (65%WO3 basis) today, up 8,000 yuan/standard tonne (65%WO3 basis) WoW Friday, with some transactions based on premiums over the online price. SMM APT closed at 685,000 yuan/mt today, with smelters mostly adopting a wait-and-see approach and suspending offers.

[Molybdenum News Brief] According to customs data, molybdenum concentrates imports in April 2026 totaled 8,859.77 mt, up 33.31% MoM and 62.17% YoY. Cumulative molybdenum concentrates imports from January to April 2026 reached 24,735.76 mt. Molybdenum concentrates exports in April 2026 totaled 1,167.11 mt, up 111.48% MoM and 5.45% YoY. Cumulative molybdenum concentrates exports from January to April 2026 reached 2,490.94 mt.