"Tungsten Prices Soar Post-Holiday: China APT Up 25,000 Yuan/Ton, Spot Supply Tight"

[SMM Magnesium Express] Post-holiday Mg ingot FOB Tianjin port offers rose to $2,360-2,410/t, up $35 from Feb 13. Pre-holiday export orders were mainly for March shipment, with traders now focused on stocking and delivery. European inquiries increased during holidays; CIF Rotterdam offers stayed high due to freight volatility, with downstream buyers cautious. A peak in new overseas orders is expected in late February to early March.

[Tungsten Industry Long-Term Contract Information] SMM February 24 news: A tungsten enterprise in Chongyi released the long-term contract prices for the second half of February, with 55% black tungsten concentrate at 730,000 yuan per metric ton, up 60,000 yuan per metric ton MoM; 55% white tungsten concentrate at 729,000 yuan per metric ton, up 60,000 yuan per metric ton MoM; and ammonium paratungstate (national standard zero-grade) at 1.07 million yuan per metric ton, up 100,000 yuan per metric ton MoM. Note: The above quotations include 13% VAT.

During the 2026 Spring Festival holiday, the electrolytic manganese market stabilized at the bottom with sluggish transactions. Before the holiday, the market’s downward momentum slowed after a cumulative 600 yuan/ton drop, with mainstream prices approaching the 17,000 yuan/ton mark, supported by steel mills’ final pre-holiday stockpiling. During the holiday, prices remained stable at around 17,300 yuan/ton with almost no transactions.