【SMM Tungsten Analysis】 SMM News, August 14: The global tungsten industrial chain remained in a stalemate this week. Divergent inventory‑building strategies across upstream and downstream segments

[SMM Tungsten Daily Review: Mine-side transactions steadily improve; APT market still needs demand stimulus] SMM August 12 News: Today, the tungsten concentrates market saw stable transactions. SMM 65% wolframite concentrates held at 416,500 yuan per standard tonne (65%WO3 basis), and the price spread between spot orders and long-term contracts in the market narrowed noticeably.

[Tungsten Express] SMM, August 7: A Guangdong mine sold 54 standard tonnes of 24.17% tungsten concentrates through auction on August 7, with a final transaction price of 393,000 yuan/standard tonne (65% WO3 basis), shifting the transaction price center up compared with the enterprise's previous auction.

【SMM Tungsten Analysis】 SMM August 6: On August 5, major Chinese tungsten enterprises released their long-term contract prices for the first half of August, among which the price for 55% wolframite concentrates was set at 412,000 yuan/mt, up 1,000 yuan/standard tonne from the second half of July, and the APT long-term contract price was simultaneously raised by 1,000 yuan/mt to 606,000 yuan/mt.

[Tungsten Express] SMM August 5 News: Today, the tungsten concentrate market remained stable, as the market re-evaluated the impact of the "Opinions of the National Mine Safety Administration on Regulating Excavation (Stripping) Construction Teams for Metal and Non-metal Production Mines" on the non-coal mining industry. The document requires that underground mines, by May 1, 2027, and open-pit mines, by May 1, 2028, choose one of two options: ① establish an in-house excavation team; ② outsource to a compliant integrated contractor; prohibit fragmented subcontracting and multi-level subcontracting; ban labor dispatch underground; and mines that fail to complete rectification by the deadline will be ordered to suspend production for rectification. China's tungsten mines are primarily underground (most wolframite mines are underground, while some scheelite mines are open-pit or underground). The main producing regions of Jiangxi and Hunan have a large number of small and medium-sized tungsten mines that have long heavily relied on external excavation subcontracting teams, imposing substantial constraints on the supply side, cost side, and the survival of small and medium-sized mines. Meanwhile, in the past two days, trading in the tungsten concentrate spot market began to turn active, with traders entering actively. Yesterday, a mine in Guangdong auctioned low-grade ore, and all 156 standard tonnes were sold. Downstream smelters remained cautious, awaiting guidance from today's long-term contract prices. Overall, the market was stimulated by frequent mining policies and intensive safety inspections in Yunnan, Jiangxi, Henan, and other regions, easing market sentiment, while supply-side disruptions intensified. If demand enters the market moderately, the tungsten market will see a turnaround.

[Tungsten Express] August 4, a mine in Guangdong sold tungsten concentrates through auction, with transaction results as follows: 1. Quantity: 67±5% standard tonnes (65%WO3 basis), grade: 17.46%, transaction price converted to 337,400 yuan/standard tonne (65%WO3 basis); 2. Quantity: 89±5% standard tonnes (65%WO3 basis), grade: 19.47%, transaction price converted to 349,000 yuan/standard tonne (65%WO3 basis).

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[SMM Tungsten Analysis: Tug-of-war Between Mine-side Price Holding and End-user Off-season, Short-term Tungsten Market Likely to Move Sideways] SMM July 23 News: This week, the tungsten market center rebounded slightly. At the beginning of the week, upstream raw material transactions turned active, and the market transaction center edged up slightly. Mine-side suppliers’ sentiment of holding back from selling intensified, and prices held firm. However, there was ample supply of low and medium-grade ore in the market, and the price spread between high-grade and low-grade ore transaction prices widened. At the start of the week, a tungsten enterprise in Jiangxi published its long-term contract prices, which were generally close to the spot order transaction prices of that day. The price spread between long-term contracts and spot orders narrowed. As the weekend approached, market sentiment diverged,

[Tungsten Flash] SMM, July 22: A mine in Guangdong put up six batches of tungsten concentrates for auction on July 22. As of now, two batches have been transacted: 43 standard tonnes (65% WO3 basis) of 23% WO3 tungsten concentrates were sold at 366,500 yuan/standard tonne, and 29 standard tonnes of 18% WO3 tungsten concentrates were sold at 338,100 yuan/standard tonne.

[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.