China's tungsten ore index fell nearly 7% today. Several listed tungsten producers said tungsten concentrate prices have edged down modestly since last week after peaking at 1.08 mln yuan/tonne in March 2026. Prices retreated from March, stabilised in June, and resumed a pullback last week. Firms said the March rally was mainly supply-driven; downstream buyers tend to buy on rallies and have become cautious as prices fall, but overall demand has not changed materially. Companies with full-chain

China's tungsten ore index fell nearly 7% today. Several listed tungsten producers said tungsten concentrate prices have edged down modestly since last week after peaking at 1.08 mln yuan/tonne in March 2026. Prices retreated from March, stabilised in June, and resumed a pullback last week. Firms said the March rally was mainly supply-driven; downstream buyers tend to buy on rallies and have become cautious as prices fall, but overall demand has not changed materially. Companies with full-chain exposure said the price decline is unlikely to directly affect Q2 earnings, with any impact likely to show up with about a one-quarter lag.