Guangdong Tungsten Enterprise Raises Long-Term Contract Prices for First Half of June

[Tungsten Flash] SMM July 1 News: Xiamen Tungsten announced that its 60%-owned subsidiary Luoyang Yulu Mining has completely halted production. The enterprise relies on CMOC’s molybdenum beneficiation tailings to extract scheelite concentrates. Now, due to CMOC suspending tailings delivery, it has no raw materials for production, and the timing for production resumptions is undetermined. According to the announcement, Luoyang Yulu’s production and sales of scheelite concentrates (WO3 metal content) in 2025 were 1,924 mt and 1,614 mt, respectively, and in H1 2026, production and sales were 685 mt and 669 mt, respectively. This production halt is expected to have some impact on the company’s near-term operating performance. As it is currently impossible to determine how long Luoyang Yulu’s suspension will last, the impact on the company’s performance cannot be predicted at this time. Specific circumstances will be subject to the company’s audited financial reports.

[Tungsten Flash] SMM, July 1: The tungsten market mainly saw weak consolidation today. Trading volume at the mine side contracted, downstream smelters had few orders, and with inventories at high levels, enterprises mostly purchased tungsten concentrates and recycled raw materials as needed. Some traders mainly pushed for lower prices. The negotiation center for spot orders of 55% tungsten concentrates was around 440,000-460,000 yuan per standard tonne. SMM 65% tungsten concentrates closed at 491,000 yuan per standard tonne today, down 10,000 yuan per standard tonne from yesterday, but still up 56,500 yuan per standard tonne from early June. Going forward, key focus will be on mine tender transactions and the new round of long-term contract information.