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Strong Global Demand, International Tungsten Prices Rise

Posted by: Chris Na 2021-10-30 Comments Off on Strong Global Demand, International Tungsten Prices Rise

Strong Global Demand, International tungsten Prices Rise

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Category: Tungsten’s News
Published on Tuesday, 31 July 2018 22:39

Tungsten is a natural rare material. It is commonly found in wolframite and scheelite. Tungsten is famous for its unique properties, such as high density, high melting point and excellent mixing ability. Tungsten is also one of the highest melting point metals found on the earth. Many tungsten alloys are used in various fields, such as bulb filaments, electrodes, X-ray tubes, radiation shielding, microelectronic integrated circuits, superalloys, aerospace, etc. Tungsten is also used for military purposes because of its hard physical form and high density, such as armor piercing shells and insulation shielding. In addition, tungsten products can also be used as catalysts in many industrial processes.

Recently, influenced by various factors, the market price of tungsten concentrate has been steadily rising and rising. As buyers and sellers have gradually accepted the existing price, the quotations of tungsten suppliers have begun to become stronger and more confident. Unlike the rise in September, the price rise is warm and harmonious, and the downstream manufacturers have gradually accepted such a price promotion form, and in all kinds of downstream tungsten products enquiries can also be more leisurely and reasonably prejudged prices.

At the same time, the world's economic institutions also have a positive attitude towards the rise in the price of tungsten in the future. Professional economic institutions believe that the global tungsten market is expected to increase the annual growth rate of 2017-2021 years to + 4.20%. Although the tungsten carbide is the main share of the tungsten market at present, tungsten consumption of tungsten products is expected to be present. Fast growth is increasing with the increasing use of high growth electronics and construction industries. The price of tungsten concentrates is rising in the world's most expensive Metal Bulletin assessment of price authority. It is said that overseas buyers are increasing their purchases before Christmas and the new year's Day holiday.

This situation has also delighted tungsten miners in Europe and the United States, who are grateful for the rise in tungsten prices and most happy to see them. This is because in previous years, China supplied about 80% of the world's tungsten, but the lower prices made them unprofitable, difficult to compete, and were almost at the edge of the life and death line. But in recent months, China's production has led to a rise in the market price of tungsten. As a result, the old tungsten mining companies, such as Britain, Spain and Russia, have turned their losses into profits, and have aroused greater enthusiasm for production, and are constantly seeking the possibility of increasing production.

In December 1st, the offshore price of APT min 88.5%WO3 rose by 1.4% in China compared to the previous week, to 298-301 US dollars per ton on Wednesday December 6th, 75% for tungsten, and FOB in China to follow the rising trend of $36.50-38 per kilogram. A APT exporter, who did not want to be named, told the Journal of Metal Bulletin: "during the Christmas and lunar new year, international buyers were actively replenishing the goods, and they sold 100 tons of APT last week." And there are still new buyers in inquiries, and some international buyers believe that the Chinese government may be implementing a quota system for tungsten production and is carrying out more stringent environmental and safety regulations, which will further boost the price of tungsten.

The metals bulletin magazine also believes that the Asia Pacific region driven by China will continue to dominate the supply and utilization of tungsten throughout the world. By 2019, China will fully control the quotations of tungsten mines and get 3/5 of the proceeds. The great impact of the country on the global tungsten market is its absolute tungsten resource reserves and the Chinese government's strategic importance to tungsten resources, and is encouraging and helping the tungsten products enterprises to upgrade and upgrade their strategic resources to stay in China. Geographically, most of the Asia Pacific region occupied the tungsten products market in 2017 because of the strong manufacturing industry in the Asia Pacific region, and the consumption of tungsten in the Asia Pacific region is higher than that in other regions. Tungsten manufactures are used in the production of electronic and electrical industry. China is the manufacturing center of electronic and electrical products in the world.

In addition to limiting tungsten ore mining, the sharp rise in costs over the past ten years has made it difficult for tungsten ore prices to go back to the past. The magazine also said: "Although the future of the Chinese government on tungsten production quota policy is difficult to determine, but China's supply is expected to continue to face regulatory pressure. A trader source also said that China's price is the flagship price, and they know that there is no need to reduce the price.

As a result, the EU regards tungsten as an important commodity and the UK classifies tungsten as a key commodity, and the British geological survey has listed it as the first place to maintain a list of material supply risks needed for the British economy and lifestyle. Coupled with the current global growth of tungsten demand, it is an ideal time for many of the tungsten mining projects being mined, and the UK's fourth largest Durkelands Mine has realized profits in 2017, and the latest drilling results have shown that there are new tungsten veins nearby, the head of the mining company said, They will also speed up exploration and look for new sources of production, and the rise in tungsten prices is the driving force behind their production, as people around the world think.

 

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