Ganzhou Tungsten Association Releases Forecast Price Cut for Tungsten Products in July 2026

[Tungsten Flash] SMM July 6 News: A tungsten enterprise in Chongyi announced its long-term contract prices for the first half of July, with the 55% wolframite concentrates long-term contract settled at 448,000 yuan/standard tonne (65%WO3 basis), the 55% scheelite concentrates long-term contract settled at 447,000 yuan/standard tonne (65%WO3 basis), and the mine-side long-term contract prices were reduced by 72,000 yuan/standard tonne (65%WO3 basis) compared with the second half of June. The APT long-term contract settled at 660,000 yuan/mt, down 120,000 yuan/mt from the second half of June.

[Tungsten News] SMM, July 6: Today, the domestic tungsten raw material market was mainly in the doldrums. Last Friday, a mine in Guangdong auctioned 43 standard tonnes (65% WO3 basis) of low-grade tungsten concentrates, which ultimately failed to attract any bids. Inquiries were sluggish, and with considerable market uncertainty, traders were less willing to enter the market. Smelters mainly restocked based on long-term contracts and rigid demand. Spot orders were concluded at transaction prices below the online price, with some deals done at 430,000–450,000 yuan per standard tonne (65% WO3 basis). According to the SMM survey, China’s tungsten concentrates production edged down MoM in June, mainly because safety inspections in Jiangxi and Hunan caused a slight decline in output at some mines. In addition, some small mines in Henan also reduced or suspended production due to reasons such as the exhaustion of first-half quotas. In July, with the flooding season in south China, tungsten concentrates production was expected to remain at low levels. However, amid sluggish shipments across the industry in Q2, there was still some inventory in the tungsten concentrates market waiting to be cleared. This week, attention will focus on long-term contract information in the industry and changes in downstream restocking sentiment.

In June, global scrap tungsten markets diverged. India followed China's tungsten price rally, with active trading and higher prices in mid-June before cooling as China softened. Europe saw low-level consolidation due to high speculative inventories, but prices began to edge up in late June as stocks cleared. China's tungsten market experienced a sharp rebound followed by a pullback, and is expected to consolidate in the near term, while medium-to-long-term fundamentals remain solid.