China Tungsten Stocks Whipsaw as Wind Tungsten Index Drops 6.73%

Shares of China’s listed tungsten companies swung sharply on July 6, with the Wind Tungsten Ore Index closing down 6.73%. Several tungsten-sector listed firms said tungsten concentrate prices have seen a mild pullback, with signs of a retreat emerging from last week, while downstream demand has not changed much, according to Jiemian News. One company executive said tungsten concentrate prices hit 1.08 million yuan per tonne in March 2026, then trended lower from March and stabilized somewhat in June before pulling back again from last week. Company representatives attributed the earlier surge before March mainly to tighter supply. A securities department staffer at another listed tungsten company said many downstream customers tend to buy on rising prices but become cautious when prices fall, though overall demand has not shifted significantly. An unnamed listed company said that for firms covering the full tungsten value chain, price moves may not directly affect second-quarter results and could show up with a one-quarter lag.