Frbiz Analyzes China's Tungsten Market

Jan 07, 2010, 10:00 ET from Frbiz.com

BEIJING, Jan. 7 /PRNewswire-Asia/ -- Frbiz.com, one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, analyzes China's tungsten market.

According to Frbiz's 2009 predictions, China's tungsten market has recovered, but will continue to face challenges as confidence gradually increases.

China's economy maintained relatively fast growth, which will be good for tungsten demand recovery and stability of growth; even though the short term may not be out of the financial crisis, to stabilize the financial markets will reduce the financial impact of the crisis cycle and restore global economic growth for the international tungsten market.

In 2010, with tungsten ore resource integration and recovery of low-grade tungsten comprehensive output growth, China's tungsten concentrate production is expected to increase. Some of the top producing tungsten mines (http://frbiz.com/q-tungsten/ ) have slowed production, which slows down the growth of the tungsten market. Frbiz expects that tungsten concentrate supplies will continue to remain basically stable.

The rise in cost of tungsten products each year will help support the Chinese tungsten market price. In recent years, the tungsten mining enterprises, or tungsten smelting, export trade and processing enterprises, have significantly increased operating costs. Tungsten mining enterprises, in order to extend service life of mines, have invested in environmental protection and technological reforms, so ore mining costs continue to rise.

Since the Chinese market price of tungsten in December 2009 has stabilized, the mainstream price of tungsten concentrate from February has risen to 65,000 RMB/Wo365%, year-on-year up 9.40%. In the long term, due to the scarcity of resources, the special properties of tungsten and the application of the advantages of China's tungsten resources, total market recovery is an inevitable trend, which is also in line with social exchange value of environmental resources continuously improving overall.

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