Global: Tungsten Prices Will Remain at $ 40,000 / Ton

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It is reported on January 13 that President and CEO PierreMonet from Montreal-based manufacturer of tungsten Malaga Company (MalagaInc) in Toronto, said in an interview that tungsten prices will remain at $ 40,000 / ton this year,

Xiamen, Fujian, China., January 17, 2012 - (PressReleasePoint) -

It is reported on January 13 that President and CEO PierreMonet from Montreal-based manufacturer of tungsten Malaga Company (MalagaInc) in Toronto, said in an interview that tungsten prices will remain at $ 40,000 / ton this year, because China, as world's biggest producer continued suppressing exports. Chinese tungsten production accounts for 80% to 85% of the world production. There is no indication that the government will change its restrictions designed to protect domestic supply and export policy. The next two to three years is of no greater (excluding China) supplier. The market supply is tight.

It is reported, Pasto Bueno, a factory of Malaga, located in Peru accounts for about 10% of the global tungsten mine production (excluding China). The company plans to increase tungsten processing business daily output from 350 tons to 500 tons at the end of the year, and at the end of 2013 will double output to take advantage of strong demand for tungsten. The company produced a container weekly for consumers of tungsten. In addition, the company's closing price on the day the Toronto Stock Exchange is at 11 points.

According to European price data, the price of paratungstate rose 32% last year to the end of the USD440/metric units. In addition, tungsten is used to drill, industrial tools, and mobile phones, and the metal prices has risen more than 6 times since 2003.