As of June 11, 2026, 14:36, the China Securities CSI Rare Metals Theme Index (930632) surged by 3.00%. Component stocks ZY-Tungsten rose by 10.01%, JDCMOLY increased by 10.00%, and Yunnan Zhenye climbed by 9.27%, with stocks like Dongfang Tantalum and Tianhua New Energy also following suit. The Rare Metals ETF ChinaAMC (159053) rose by 2.75%.

In terms of news, on June 11, tungsten-related stocks saw a midday rally, influenced by tightening overseas supply chains and a surge in downstream demand. The supply-demand gap for tungsten hexafluoride widened, leading to a significant price increase, with tungsten prices also soaring rapidly. The price for China's 99.999% purity products reached 1,670–1,810 yuan/kg, a year-on-year surge of 232.7%. Suppliers like SK Specialty and Foosung in South Korea have notified clients such as Samsung Electronics and SK Hynix that they will raise prices by 70%–90% in 2026.

According to Dongfang Caifu Securities' weekly report, tungsten prices among minor metals have recently bottomed out and rebounded. ZY-Tungsten has raised its long-term contract prices for the first half of June, with the price of 55% black tungsten concentrate significantly increased by 91,000 yuan/ton compared to the previous round. Meanwhile, some provisions of the Ministry of Commerce's decision to impose export controls on relevant rare earth items will take effect by the end of 2025, potentially increasing export demand for non-controlled products and further impacting the global supply chain.

From a valuation perspective, the latest price-to-earnings ratio (PE-TTM) of the Rare Metals ETF ChinaAMC tracking the China Securities CSI Rare Metals Theme Index is only 30.92 times, which is at the 5.81% percentile over the past year, indicating that the valuation is lower than 94.19% of the time in the past year, placing it at a historical low.

The Rare Metals ETF ChinaAMC closely tracks the China Securities CSI Rare Metals Theme Index, which selects no more than 50 publicly listed companies involved in the mining, smelting, and processing of rare metals as index samples to reflect the overall performance of rare metals theme listed company securities.

Data shows that as of May 29, 2026, the top ten weighted stocks in the China Securities CSI Rare Metals Theme Index (930632) are Luoyang Molybdenum, Northern Rare Earth, Salt Lake Industry, Huayou Cobalt, Ganfeng Lithium, Tianqi Lithium, China Tungsten High-Tech, Xiamen Tungsten, Tianhua New Energy, and Yunnan Zhenye, with the top ten weighted stocks accounting for a total of 55.58%