Tungsten Market Report April 2011
2011-07-22 08:59:27 【Print】
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The tungsten market in both China and aboard was depressed in the beginning of April and rose in the second half of the month. In the previous month, the East-Japan Earthquake damaged the productions of automotives around the area, and people were afraid that would decrease the demand for tungsten. Later on, the radiation leakage was the concern for many people that most of the manufacturers in the areas stopped production for a while, including a major producer of cemented carbide. Therefore, some market participants expected falling tungsten price due to the lower demand. In fact, the Japanese tungsten market was not much influenced by the earthquake as most of the Japanese tungsten manufacturers are located in the southwest part of Japan, and the producer located close to the nuclear power plant resumed production within a month. By the end of April, prices of tungsten products rose fast in China, especially for tungsten concentrate. Followed the Chinese domestic price trend, many western buyers received higher offers after they returned from the Easter weekend.
