Tungsten, like all the other metals, has seen a large amount of its value lost in the 2008 market crash. However, some stability has been lent to tungsten due to the fact that China has a monopoly on the market.
CHINA’S Jiangxi Rare Earth & Rare Metals Tungsten Group Co. Ltd. will build a demonstration nickel-cobalt leaching plant in Palawan, Atlas Consolidated Mining & Development Corp. For full story, click here
It is reported that recent domestic Ferro-tungsten market remains sluggish chaotic quotations continuing and thin deals done. For full story, click here
It is reported that recent domestic Ferro-tungsten market remains sluggish chaotic quotations continuing and thin deals done. For full story, click here
China has the richest resource of tungsten in the world. China’s proven reserves of tungsten were 1.8 million tons, accounting for 62% of the world’s total reserves, according to U.S. Geological Bureau data in 2005, For full story, click here
The Central Government of China has recently made an announcement that the second export quota for such rare metals as molybdenum, tungsten and so on to be shipped from China. For more information, click here
China’s biggest tungsten producer Hunan Nonferrous Metals Corp’s H1 profit declined by 75% after snowstorms cut production. For more information, click here
Over the past four years the price of tungsten has surged from $4 per pound to over $14 per pound. The surge in the price of tungsten has been caused by the fact the China has a monopoly on the market.
Thursday, December 4, 2008