EQ Resources Approves A$39M Mt Carbine Tungsten Mine Expansion, Targets Q3 FY2027 Full Commissioning

[SMM Scrap Tungsten Flash] SMM, June 25 – This week, the ex-China scrap tungsten market showed divergent trends. European scrap tungsten alloy blade prices were raised to €90-95/kg, up 5.71% WoW. According to traders, the scrap recycling systems of European tool enterprises continued to expand, and scrap demand and trading remained active. Indian scrap tungsten drill bit prices were lowered to $120-140/kg, down 3.7% WoW. Local scrap market demand activity was subdued. On the one hand, this was influenced by the slight quiet decline in Chinese prices; on the other hand, some downstream sodium tungstate enterprises in the scrap sector indicated that end-users in Europe and the US, having established their own recycling systems, had seen weaker demand for raw materials such as sodium tungstate.

SMM News Release, June 22 According to customs data, China’s total exports of tungsten smelting products and tungsten materials reached approximately 1,063.6 tons in May 2026, down 11.9% month-on-month and 17.9% year-on-year.

[Wolfram Snapshot] SMM, June 25: A Guangdong tungsten enterprise announced its long-term contract purchase quotations for the second half of June as follows: wolframite concentrates (55% grade) at 518,000 yuan/standard tonne (65% WO3 basis), scheelite concentrates (55% grade) at 517,000 yuan/standard tonne (65% WO3 basis). The long-term contract prices for ore were flat MoM from the first half of June. APT (national standard, zero grade) was executed at 780,000 yuan/mt, flat compared with the long-term contract price in the first half of June.