Guangdong Xianglu Tungsten Industry Long-Term Contract Prices for the First Half of February 2026

SMM Feb 11: Market sources reported that a large smelter in northern China recently conducted a public tender for a certain quantity of indium ingots. Rumors suggest that the starting price for this batch of indium ingots was around RMB 4,000/kg, and the tender concluded successfully with a transaction price exceeding RMB 4,300/kg. Market participants indicated that although trading activity has relatively cooled as the Spring Festival approaches, the overall bullish sentiment toward indium prices remains unchanged. If the smelter’s tender results are indeed accurate, it is possible that indium prices may continue to rise after the holiday.

[SMM Tungsten Daily Review: Tungsten Market Rises on Long-Term Contract Price Increases Amid Pre-Holiday Shrinking Volume] SMM February 10 – Today, tungsten product prices maintained an overall upward trend. Approaching the Chinese New Year, factors such as production cuts at mines and stricter control over tax-exclusive business contributed to scarce circulation in the tungsten ore market, driving transaction prices up significantly. Last Friday, an enterprise in Luoyang auctioned 25% tungsten concentrate, with transaction prices concentrated in the range of 10,155–10,160 yuan/mtu. Shipments from other mines remained scarce ahead of the holiday.

Pre-holiday, titanium concentrate prices softened amid weak downstream demand, while titanium dioxide saw inventory draws and price support from exports and pre-holiday restocking. Sponge titanium stabilized with export-led growth. Post-holiday demand will guide price trends across the chain.