Financials and Cement Lead Losses on Chinese Indexes
CapitalVue reports the Shanghai Composite Index dropped 0.54 percent or 14.71 points to close at 2,708.78 points today.
CapitalVue reports the Shanghai Composite Index dropped 0.54 percent or 14.71 points to close at 2,708.78 points today.
Xinhuanet reports Chinese shares tumbled on Monday following a deadly train collision which left at least 39 people dead and 192 others injured.
Bloomberg reports that Xiamen Tungsten and other companies made unusual moves today on the Chinese market.
Bango Tungsten & Molybdenum Co., Ltd. reports it is nearing its 10 year anniversary as a tungsten allow producer in China.
Bloomberg reports that the World Trade Organization has determined China's raw material export curbs break international rules.
Due to tight export controls the price of tungsten has been skyrocketing. In an interview with Tungsten Investing News, Pierre Monet President of Malaga Inc. talks about the tungsten market and their mining operations.
Tungsten prices continue to rise, gaining approximately 80 per cent since October of 2010. The lack of supply from mining operations in the West as well as increased domestic demand in China has supported the price of tungsten.
The supply of tungsten in 2011 will be helped by the increases in production quotas in China. However the slight increase in the quota will only alleviate supply issues slightly. In the long run, the cap to minor metals production in China due to the new ‘five year plan’ will further supply side issues on the world market.
A lack of supply has been driving up the price of tungsten on the world market. The further reduction of exports from China is only exacerbating the problem. As new uses and the economic recovery take off new mining will have to make up the difference or severe shortages will be the reality. In an exclusive interview, Stephen Leahy, CEO of American Tungsten explains the factors driving the market.
The prices for tungsten have skyrocketed as much as 81 per cent over the last year due to tight supply chains. China’s second largest tungsten producer announces a three month shut down for repairs, adding scarcity in the market. Also, tungsten miners announce developments on their projects.
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