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.
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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.
Hazelwood Resources Ltd. has announced positive results from its pre-feasibility study on the Big Hill Tungsten Deposit in Western Australia. This is the ferrotungsten (FeW) project that is being constructed in Vietnam via its its subsidiary Asia Tungsten Products Co Ltd (ATC). The said feasibility study (DFS) is ongoing and should be completed by the [...]
Low demand, low prices, and the break up of the former USSR has led to a collapse in tungsten production. With China soldering on as the predominant tungsten producer in the world, the West is seeking out direct ownership of non-Chinese mines. Where is the fresh supply?
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.
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.
Tungsten prices have managed to hold steady while all the other base metals dive. In 2004, tungsten was worth US $60 per kilo, and now it oscillates around $260 per kilo. Tungsten’s value is due to its exceptional properties.