On September 8, Almonty Industries Inc. (NASDAQ Uplisting) rose 5.09% in regular trading, reaching $18.45/share with turnover of $38.43 million.

The rally comes as the US Commerce Department's tungsten scrap export ban, invoking the Defense Production Act, officially took effect in late August. The one-year prohibition covers tungsten scrap and lithium-ion battery recycling black powder exports, aiming to retain critical minerals domestically and reduce dependence on overseas suppliers. US tungsten scrap prices have surged to $167.50 per pound, up over 300% year-over-year, as global tungsten supply-demand dynamics undergo significant restructuring. Japan and Europe, which previously relied on US tungsten scrap imports, now face growing supply gaps.

As a leading tungsten concentrate producer with its flagship Sangdong Mine in South Korea having commenced processing operations in July, Almonty is well-positioned to benefit from tightening global supply. Jefferies recently initiated coverage with a Buy rating and a $26.25 price target, while the analyst consensus target stands at $26.68, reflecting strong institutional confidence in the company's outlook amid elevated tungsten pricing.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)