Core Viewpoint - The article highlights the rising prices of tungsten and rare earth metals, with tungsten reaching a historical high, amidst increasing global competition for critical minerals [1]. Group 1: Market Performance - On February 12, the three major indices collectively rose, with the ChiNext Index increasing by over 1% [1]. - Small metal sectors showed significant activity, with companies like Xianglu Tungsten and Dongfang Tantalum experiencing notable stock performance [1]. Group 2: Supply and Demand Dynamics - The market anticipates increased demand for replenishment after the Spring Festival, leading to improved short-term transaction volumes [1]. - The current supply situation for tungsten remains tight, with challenges such as reduced mining quotas, declining year-end shipments, and unstable import volumes [1]. - The global tungsten market faces a pronounced supply-demand imbalance, making it difficult to resolve short-term issues [1].