Almonty Extends Tungsten Offtake Agreement with GTP, Increases Volume and Revenue Potential

[Tungsten Flash] SMM July 20 news: According to customs data, China's tungsten concentrates imports in June 2026 rose 56.6% MoM and 49.9% YoY to 3,227 mt, a record monthly high. The main sources of imports in June were Kazakhstan, Myanmar, North Korea and other countries/regions.

[Tungsten Express] SMM July 20 News: A tungsten enterprise in Chongyi released long-term contract prices for the second half of July. The long-term contract price for 55% wolframite concentrates was executed at 411,000 yuan per standard tonne (65% WO3 basis), and for 55% scheelite concentrates at 410,000 yuan per standard tonne. The ore-side long-term contract price was reduced by 37,000 yuan per standard tonne compared with the first half of July. The long-term contract price for APT (national standard, zero-grade) was executed at 605,000 yuan per mt, down 55,000 yuan per mt from the first half of July.

[SMM Tungsten Express] European APT market offers held steady in the $2,900-3,250/mtu range this week, with overall trading remaining light. Market participation was limited due to the summer holiday season, with both buyers and sellers inactive. Mine supply has increased somewhat, weighing on price expectations, though this has yet to be fully reflected in spot transactions. Some traders noted that APT offers near $3,200/mtu appear inflated, with actual deals difficult to achieve, resulting in a market with prices but no buyers. Scrap prices also came under pressure, with European producers accelerating their shift toward recycled scrap material, further weakening demand for primary APT. The market is expected to remain weak and range-bound in the near term, with attention on Chinese price trends and demand recovery post-summer.