Chinese ferrotungsten export prices have been creeping up since the conclusion of the spring festival in January. Low prices in the fourth quarter of 2008 pushed many key tungsten producers to stop operations. The same miners have announced, that despite the current trend, they do not plan to resume mining and production in short term.
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Shenzhen, the Chinese city that accounts for 60 per cent of China’s total annual exports, is witnessing declining demand for tungsten. In 2007, the latest year for which industry data is available, it shipped $23 million worth of tungsten carbide powder and alloy jewelry.