Tin and tungsten will soon be excavated in Myeik through a collaboration of the Ministry of Mining and the Ngwe Kabar Myanmar Company.

“The joint venture project was permitted on February 27 in accordance with the Myanmar Citizens Investment Law at the Investment Commission's 8/2013 meeting,” said a spokesperson from the commission.

The alloy ores will be excavated from an 812-acre site before being refined and produced into metals in Tanintharyi Region.
 
“There is tin metal alongside a tungsten vein in Myeik. You can also find precious titanium there,” said Soe Thein, an experienced geologist.
 

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Rising prices of APT in the European market have forced many of the tungsten carbide 99.7%min manufactures to lift their tungsten carbide prices above the USD51.00kg level for the first time this year, an increase of a little under USD1.00kg over the past two weeks. China tungsten carbide 99.7%min producers have held their export prices between USD49.00-49.50kg FOB this week; however, buyers across EMEA have shown confidence that with a bid price of USD48.00kg may be achievable.

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National Land Resources Bureau has recently decided to implement volume control of tungsten, antimony and rare earth. It is an important step in protecting and rationally exploiting of resources and will be of great importance in stabilizing the supply-demand relationship in the global market and enhancing the price-setting voice of our country in dominant ore resources .

Last year, tungsten exploitation seemed performed very well under the control index as the international economy is growing a slow pace, demand for ore has not yet recovered, global demand for tungsten concentrate on the other hand is declining slightly. After the shrinking of demand and falling of price since last year, rare earth market has been weak in grow trends. General speaking a strict control of tungsten, antimony and rare earth is an advisable policy in preventing over-exploitation and blind competition, meanwhile it also good for  the sustainable development of ore resources.

For a long run, China has been facing with problems like the use ratio for dominant resource is quite low whereas exporting volume is high, and reserve for resources is still not enough. According to the statistics : resources reservation of tungsten, tin , antimony can be used up in 14 years,12 years and 6 years respectively.

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Another significant drop in prices for the noble alloy this week in European ferrotungsten market, falling from USD39.50-40.00kg W in warehouse Rotterdam on Friday, to between USD39.00-39.50kg W in warehouse Rotterdam as of Wednesday. The European ferrotungsten market has looked shaky through much of February, loosing almost USD3.00kg W in value in a little over four weeks, and sources in Europe feel that a combination of abysmal spot market demand and surplus stock may push prices lower in the coming weeks.

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Tungsten concentrate market continues to run slowly with stable prices. Most of the market participants watch the market. The downstream customers only purchase from hand to mouth, and are unwilling to hold stocks in large quantities. An end-user for tungsten concentrate based in South China expressed that they purchased a batch of wolframite 50% at 1,560RMB and  250USD last week.

You can visit the following links for more information about tungsten concentrate prices. Than you very much!

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China tungsten electrode market is quiet and the tungsten electrode prices keep stable this week. However, as the downstream customers are inactive in making deals,the trading volume remains at low level. Output of around 8 tons per month and they mainly dealt with the old orders.

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European ferrotungsten market prices have seen a slight split appear between numbers quoted for standard grade and off-spec material this week. An undisclosed volume of off-spec ferrotungsten is available in the European market at present, and although a number of consumers can work with this material, it is still trading at a slight discount. Offering prices for the off-grade ferrotungsten are between USD38.40-38.90kg W d.d.p to European consumers as of Tuesday and for standard grade material prices have held between USD38.90-39.20kg W d.d.p so far this week.European Ferrotungsten Market looks gloomy for short term.

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Chinese ferrotungsten market continues to be quiet this week. Owing to the increasing raw materials’ prices, the ferrotungsten suppliers hold offers firm now. But the demand is soft, and the trading volume does not recover in the spot market.

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In the recent days, the raw materials’ prices moved up continuously. But as the demand keeps weak, the trading volume is small in the spot market. The tungsten scrap market moves slowly. It is expected that the tungsten scrap market will be inactive in the near future.

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Sources in the US have expressed slightly different opinions regarding the short-term outlook for tungsten carbide, however, at present, values and overall demand keeps rather unchanged since the beginning of the month. Activity is in a better state compared to the previous three months, but many are still concerned that larger players will not reenter for consistent purchases for the majority of the year. Prices were forced up slightly last month, and it seems as though Chinese players may be trying to do the same now to entice buys, yet US domestic participants are not experiencing anything to suggest a price hike over the next.

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