【Tungsten News Flash】

SMM, September 11‑International molybdenum oxide prices moved sharply higher. SMM assessed Molybdenum Oxide CIF Tianjin Port at $33.9‑34 per lb‑Mo, with the average settling at $33.95 per lb‑Mo (equivalent to roughly RMB 5,735 per dmtu on a China tax‑inclusive basis), up $0.28 per lb‑Mo from the previous trading day. The import arbitrage window for molybdenum oxide remains closed. Bullish sentiment returned in China’s spot market, with holders keeping offers firm and ferro‑molybdenum transaction prices edging higher. Today SMM’s 45% molybdenum concentrate was assessed at RMB 5,425 per dmtu; molybdenum oxide stood at RMB 5,535 per dmtu, unchanged day‑on‑day. Steel mill procurement tenders for ferro‑molybdenum were mainly concluded at RMB 339,000‑340,000 per tonne.

Teck Resources reported Q2FY2026 molybdenum production of 840 tonnes at Quebrada Blanca, up about 95% from 430 tonnes a year earlier and 31% from 640 tonnes in Q1FY2026. The company attributed the increase to another quarter of strong operational performance and process stability, indicating a marked rise in by-product molybdenum supply from the mine.

Mitsubishi Materials announced Sep 9 to invest ~JPY 8bn for tungsten recycling expansion at Japan New Metals Akita Plant. Certified by METI under the Economic Security Promotion Act with JPY 2bn subsidy, the plant’s APT recycling capacity will double to 2,400 tpa (WO₃ basis) and start operation in Apr 2029, using domestic cemented carbide scrap to reduce APT imports by 1,200 t annually.