Ganzhou Tungsten Association Significantly Raises Tungsten Price Forecast for February 2026

[Tungsten Concentrate Tender Information] SMM February 7: A mine in Henan conducted an online tender on February 6 to sell 300 metric tons of low-grade tungsten concentrate. Lot A had an average WO3 grade of ≥25%, while Lots B and C had an average WO3 grade of ≥22%. The tender results for each lot are as follows: Lot A: 100 metric tons, tender price of 10,155 yuan/mtu. Lot B: 100 metric tons, tender price of 10,160 yuan/mtu. Lot C: 100 metric tons, tender price of 10,155 yuan/mtu.

Driven by tight spot raw material supply, a sharp hike in corporate long-term contract prices and festive effects, the tungsten market saw price rises on shrinking volumes this week with domestic and overseas markets moving up in tandem; the strong short-term trend is set to continue, and attention should be paid to the resumption of cemented carbide production, scrap tungsten supply and downstream demand release after the Spring Festival.

[SMM Weekly Magnesium Inventory Flash Report] This week, the factory inventory increased by 1.26% compared to the previous week. As pre-holiday stockpiling nears its end, market transactions have gradually weakened, with only some inelastic demand maintaining sporadic purchases. Additionally, this week, the bottom support for magnesium prices has become prominent, the pace of price decline has slowed, and the demand for stockpiling has been rather sluggish. Affected by these combined factors, the manufacturer's inventory has shown a slight accumulation trend this week.