China to Relax Rules for Foreign Investment in New Energy Vehicle Sector

SMM News, August 5: According to official information obtained by SMM, Baiyin Nonferrous Group Co., Ltd. launched a public tender for 5 tonnes of tellurium ingots starting today. Official documents show that the tellurium ingots meet the Te99.95 standard. The tender reserve price is at a discount of RMB 40 per kilogram. Storage location: factory warehouse. Transportation costs shall be borne by the buyer. Registration closes at 15:00 on August 10, 2026; bidding commences at 15:00 on August 11, 2026.

[Tungsten Express] SMM August 5 News: Today, the tungsten concentrate market remained stable, as the market re-evaluated the impact of the "Opinions of the National Mine Safety Administration on Regulating Excavation (Stripping) Construction Teams for Metal and Non-metal Production Mines" on the non-coal mining industry. The document requires that underground mines, by May 1, 2027, and open-pit mines, by May 1, 2028, choose one of two options: ① establish an in-house excavation team; ② outsource to a compliant integrated contractor; prohibit fragmented subcontracting and multi-level subcontracting; ban labor dispatch underground; and mines that fail to complete rectification by the deadline will be ordered to suspend production for rectification. China's tungsten mines are primarily underground (most wolframite mines are underground, while some scheelite mines are open-pit or underground). The main producing regions of Jiangxi and Hunan have a large number of small and medium-sized tungsten mines that have long heavily relied on external excavation subcontracting teams, imposing substantial constraints on the supply side, cost side, and the survival of small and medium-sized mines. Meanwhile, in the past two days, trading in the tungsten concentrate spot market began to turn active, with traders entering actively. Yesterday, a mine in Guangdong auctioned low-grade ore, and all 156 standard tonnes were sold. Downstream smelters remained cautious, awaiting guidance from today's long-term contract prices. Overall, the market was stimulated by frequent mining policies and intensive safety inspections in Yunnan, Jiangxi, Henan, and other regions, easing market sentiment, while supply-side disruptions intensified. If demand enters the market moderately, the tungsten market will see a turnaround.