It is reported that Chinese ferrotungsten export price moves up USD 1 per kilogram to USD 30 per kilogram because of short supply after the Spring Festival.

As per report, market participant notes mines in Ganzhou, Jiangxi, the key tungsten base in China have been shut down since last November and major ferrotungsten producers in Jiangxi are in the same situation.

The report added that they do not plan to resume mining and production in short term.

A local ferrotungsten producer said that “We expect a further rise before our restart. The restart time may be February end or March when the weather is fine for mining.”

At present, mainstream price for tungsten concentrate has rose up to CNY 65000 per tonne compared with CNY 61000 per tonne to CNY 62000 per tonne before the Spring Festival.

(Sourced from MySteel.net)
Visit www.Mysteel.net for real time access to China steel news!