Tungsten Crosses $3,000 as Almonty Stock Hits a Speed Bump — But the Long-Term Case Holds
Published on 06/25/2026 at 11:50 | Redaktion boerse-global.de
The global tungsten market has breached the psychologically significant $3,000-per-MTU threshold just as China tightens its export grip, thrusting Almonty Industries into the spotlight as the West’s most credible non-Chinese supplier. Yet the company’s shares have taken a short-term hit, slipping below a key technical level that traders are now watching closely for a recovery signal.
Almonty’s stock touched €14.51 on Wednesday, falling under its 100-day moving average for the first time in weeks. The technical breach sparked chatter of a potential trend shift, though Thursday morning brought a modest rebound to around €14.80. The 100-day line currently sits at €15.57, and reclaiming that level in the next few sessions would quickly brighten the chart picture. Further downside support is anchored by the 200-day moving average at €11.16, a full 30% below the current price — underscoring how far the stock has already run.
Behind the short-term noise, the fundamentals continue to strengthen. Tungsten’s unique density and heat resistance make it irreplaceable in armour-piercing munitions — Rheinmetall is a key buyer — and in high-purity semiconductor manufacturing, where Intel depends on the metal. With China controlling roughly 80% of global supply, Western governments and industrial giants are scrambling for secure alternatives. Almonty’s Sangdong mine in South Korea is positioned to become the largest tungsten production site outside China, and the company has been expanding its management team to support that ambition, appointing Jorge Beristain as chief financial officer in June.
Should investors sell immediately? Or is it worth buying Almonty?
The strategic narrative has kept analysts bullish despite the share-price pullback. Cantor Fitzgerald holds a US$25.80 price target, Bank of America sees fair value at US$23, and DA Davidson projects US$25. Shareholders, too, have thrown their weight behind the board, re-electing the entire slate with near-unanimous approval at the latest annual meeting.
On the Toronto Stock Exchange, where Almonty’s primary listing trades, the stock closed at C$23.77 on Wednesday, down roughly 10% on the week and widening the gap from its April high. Yet the longer-term trajectory remains impressive: year-to-date gains stand at nearly 98%, and the share price has more than quadrupled over the past twelve months. The relative strength index has settled at around 43, a neutral reading that suggests the overbought conditions of early spring have fully unwound.
For now, the tungsten price staying above $3,000 provides a robust underpinning for Almonty’s production ramp-up. The short-term technical wobble may test patience, but the metal’s strategic scarcity and the company’s position as China’s primary non-Chinese alternative give the equity a structural tailwind that no moving average can erase.
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