China’s tungsten ore price rises on tight supply

Chinese prices of tungsten concentrates have reversed up from a six-month low, thanks to support from the tight supply of raw ores, with the price for W 65% or higher gaining by Yuan 1,500/tonne ($224/t) week on week to reach Yuan 97,000/t including the 16% VAT as of March 6, according to Mysteel’s database.

“Domestic supplies of tungsten concentrates may be curtailed in the short term, with the reduced availability of raw ores during the two annual top-level political sessions which commenced earlier this month and may last for around two weeks,” a market source in Southeast China’s Jiangxi province explained. The Chinese government has placed restrictions of