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.
Scrap recycling is an important facet of the globe’s tungsten supply, with approximately 30% of the world’s tungsten coming from recycled material.
The world is waiting to see what will happen to metals prices when the Olympics close. Tungsten prices are not an exception. As a precious metal that has 65% of its global supply harvested from one country, the price of tungsten can jolt when that country, China, makes the slightest move.
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.
Thursday, November 6, 2008