Tungsten market poised for growth
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.
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.
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.
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.
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