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.
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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.
The tungsten market is witnessing consistent growth as development around the globe in national defense, civil and war industries are using up all the tungsten supplies they can get their hands on.
With the majority of tungsten coming from China, Chinese economic activity arguably has the greatest effect on tungsten metal prices. In 2005 China depressed their exports and increased their domestic consumption.
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...
In the first half of 2008 China’s tungsten production was down 4.01%, with bad weather and stricter governmental regulations to blame. In January and February, devastating snowstorms battered much of the country. In June, severe rainstorms curbed production in the provinces of Jiangxi, Hunan, Guangxi, Fujian and Guangdong.