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

[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.

[SMM Magnesium Morning Meeting Minutes: Magnesium Market Holds Steady Pre-Holiday, Wait-and-See Sentiment Grows] February 10, Raw material side: Dolomite supply tightens as top-tier enterprises in Wutai area remain suspended, prices maintain a firm trend; ferrosilicon futures are in the doldrums, spot transactions sluggish, prices expected to continue consolidating narrowly. Magnesium ingot market offers hold steady, mainstream transaction prices in Fugu area remain at 16,350-16,450 yuan/mt, transactions mainly supported by domestic trade rigid demand and foreign trade March order stockpiling, market expectations for price declines weaken, recent market likely to continue fluctuating rangebound. Magnesium alloy market benchmark prices and processing fees both hold steady, downstream pre-holiday procurement pace slows down, supply-demand tight balance supports processing fees remaining firm. Magnesium powder market operates steadily, enterprises' pre-holiday stockpiling largely completed, both domestic and foreign trade demand show mediocre performance, transactions mainly rigid demand. Overall, pre-Chinese New Year, the market enters a stable wait-and-see phase, cost support and weakening demand counterbalance each other, prices across varieties are expected to see limited fluctuations before the holiday.