A shortage in supply after the Spring Festival has led to the export price of Chinese ferrotungsten to increase by USD1 per kilogram to USD 30 per kilogram.
Mines in Ganzhou in Jiangxi province, the key tungsten production base in China have been shut since last November as have a number of major ferrotungsten producers in Jiangxi and they do not plan to resume mining and production in short term.
A local ferrotungsten producer said “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 risen to CNY 65000 per tonne compared with CNY 61000 to 62000 per tonne before the Spring Festival.
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