Bloomberg reported tungsten will probably stay above $40,000 a metric ton this year, according to Malaga Inc. (TSX:MLG).
As quoted in the market news:
Ammonium paratungstate, the traded form of the metal, increased 32 percent last year to end the year above $440 a metric ton unit, according to European price data from Metal Bulletin. A metric ton unit equals ten kilograms (22 pounds). Tungsten, used in drill bits, industrial tools and mobile phones, has risen more than sevenfold since 2003.