China’s tungsten reserve are mainly in the provinces of Hunan, Jiangxi and Henan, which jointly account for 61.37 percent of the total national reserve.
The deposit in Qimen indicated that more ore could be found in the southern parts of Anhui, Jiangxi’s neighbour, Hao expressed.
China, with a 40.5 percent of the world’s proved reserve, is one of the major tungsten producer in the world along with Russia, Canada and the United States.
Meanwhile, Tungsten Investing News reports there is no change in tungsten prices in the US unlike China.
With the promotion of major infrastructure projects around the world, the tungsten market could see a reversal back to previous trends. The tungsten market is volatile, with a few key players controlling the market share. In infrastructure development needs tungsten, then prices could be in for a wild ride; especially considering the level of output cuts in the industry.
All the 88 rare earth mines and 90 percent of raw earth processors in Ganzhou had halted production, following the drop in prices since last October, Lai Zhaotian, secretary general of the city’s rare earth industry association, was quoted as saying.
To support metal firms survive the impact of falling prices, China’s State Reserves Bureau has been buying various metals, including copper, aluminum, zinc and nickel.
Source : Konaxis
