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.
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.
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.
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