The long-term contract prices of a tungsten enterprise in Chongyi were raised in the second half of February compared to the previous period.

[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.

SMM News, February 24: China's tungsten market extended gains on the first day post-holiday. APT spot prices concentrated around 1.05 million yuan/t, up 25,000 yuan/t from pre-holiday levels, accumulating a 380,000 yuan/t increase year-to-date. Spot supply remained tight with firm offers. Concentrate production stayed low; 65% black tungsten concentrate closed at 701,500 yuan/t, up 5,000 yuan/t from pre-holiday, accumulating a 248,000 yuan/t increase year-to-date, with some spot transactions near 705,000 yuan/t.

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.