As with many other base metals, China is looking to further reduce the exports of tungsten and may create a ‘strategic stockpile’ of the metal. These factors could make China a net importer of tungsten in 2011, a major benefit to non-Chinese producers of the metal.
Adex Mining Inc.(ADE.V) has announced its partnership with Lakefield, Ontario’s SGS Lakefield Research Limited to test the hydrometallurgical treatment of Molybdenum concentrate from the Fire Tower Zone at Adex’s Mount Pleasant Mine Property. If the test work is positive, it will lead to the colick here to acmpany’s upgrade related to its production of tungsten [...]
China Minmetals Corporation, a Chinese metals and mineral trading company, has signed an agreement with the Chenzhou city government to pursue its plan to spend $659 million for a five year exploration of rare earth minerals like Tungsten, Tin, and Bismuth in Hunan province. According to Xinhua, Chenzhou which is located in southern Hunan and [...]
The ferro-tungsten market has been stagnant in recent weeks, with only a handful of transactions taking place. Last Friday, in China, inactivity translated into a dip in prices. Ferro-tungsten fell to $25.90 a kilogram, down from the recent rate of $28.00 per kilogram.
European Ferro tungsten prices crept up for the week as buyers drew down inventories in Rotterdam. For a second week in a row, the Lunar New Year Holiday in China meant lack of supplies were coming out of the country.
A strong growth in Chinese consumption, an unlikely substitute for the metal, and the high cost of getting new mines into operation will likely support tungsten prices over the next five years.
The past week has seen many new company developments when it comes to Tungsten. Vancouver-based Golden Predator Mines announced the intersection of near surface tungsten mineralization in drilling at its wholly-owned Springer tungsten project in Nevada.
The world is waiting to see what will happen to metals prices when the Olympics close. Tungsten prices are not an exception. As a precious metal that has 65% of its global supply harvested from one country, the price of tungsten can jolt when that country, China, makes the slightest move.
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.
As with most investments there are risks and rewards associated with commodity investing, often in lock-step. Many investors hire experts to manage their money rather than doing the investigation required to increase the chances for success. But...
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