In the first quarter of 2024, Xiamen Tungsten Co., Ltd. achieved an operating revenue of around RMB4.05 billion (USD559 million) from its nonferrous metals business, up by 9.81% versus a year ago.

The company's tungsten and molybdenum business maintained steady growth during the quarter when sales of thin tungsten wire jumped by 141% YoY to 34.1 billion meters, with sales revenue up by 80% YoY.