Tungsten price up 10%4 Dec 2020 22:33
$220/mtu, up from $200/mtu last week.
Laste November, the Fanya stockpile was fire-sold by the PRC. “ 431.95 tonnes of tungsten bar sold to China Minmetals Tungsten Co for 65.96 million yuan”.
I think that works out at $160/mtu. Anyway, that stockpile is coming to an end, which is why the WO3 price is increasing. It will increase even more, given the PRC infrastructure investment, and even more after that, as Kamala Harris has been calling for a $2T infrastructure spend in the US, for at least two years since I have been following her.
Watch this move through the gears next year.