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.
Chinese-backed factories in Vietnam are offering ferro-tungsten at prices far below Chinese offers, forcing Chinese export offers down to $24-25 per kg, from $28-30 per kg last week. For full story, click here
Tungsten, like all other metals has witnessed a precipitous price drop. Data coming out of China, producers of around 85% of the world’s tungsten, shows that most of the Chinese Ferro-tungsten makers have either shut down or decreased output.
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
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