Multiple stainless steel enterprises mass-produced low-molybdenum duplex steel, reducing costs and boosting efficiency.

[SMM Tungsten Express] Almonty Industries announced that its long-term offtake agreement with Global Tungsten & Powders (GTP) for tungsten concentrate from the Sangdong mine has been extended by six years, from 15 to 21 years. The total contract volume has increased by 40% to 4.41 million metric tonne units (approximately 3,230 standard tonnes). The minimum annual offtake is 210,000 MTU. The agreement covers approximately 90% of Phase I production, with improved pricing expected to increase revenue per MTU by 6.3%. GTP is a key supplier of tungsten powders to U.S. defense and industrial supply chains.

[Molybdenum Flash] SMM July 16: Due to the recent continuous price increase of ferromolybdenum, combined with the current die steel production cost situation, and in order to ensure stable supply, Jiangsu Tiangong Aihe plans to raise prices for contract orders (including spot cargo) received from 00:00 on July 20, 2026, by 800 yuan/mt for each 1% Mo content in the steel grade, based on the June 30 price.

[Tungsten Express] SMM, July 16: Tungsten concentrates held steady today. Yesterday, auctions of tungsten ore at mines in Yunnan and Hunan were all successfully concluded, with high-grade 50% ore from a mine sold at over 400,000 yuan per standard tonne (65%WO3 basis), boosting market confidence. As the tungsten market fell steadily for a month, supplier inventories were gradually destocked. Some suppliers, bullish on the outlook, largely suspended shipments, making it harder for downstream buyers to push for lower prices and edging the bargaining center slightly higher. Currently, 55% tungsten concentrates were traded at 380,000-405,000 yuan per standard tonne (65%WO3 basis). A small number of smelters restocked on a need-to basis at low prices. In the short term, the market has entered a phase of consolidation with seesaw movements at lows.