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12/03/18
20:57
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Originally posted by zhenzhen
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Personally, the main reason China reduce tungsten production is what they called supply side reform. Like what they are doing for REE, they dont want to see any more cutthroat competion from disordered tungsten production, which results in ridiculous low tungsten price, servere pollution and bring no benefit for their economy(only good to small group of people). In the foreseeable future(5-10 years), they will keep implementing this reform and bring tungsten production under control, which is strengthened by removing the constraint on the length of presidency yesterday. So, imo, over-supply of tungsten from China wont be an issue any more. Tungsten price will be mainly determined by the demand side where i see all positive signs
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Thanks for that @zhenzhen - even more bullish for tungsten.
Since the 2nd March we have established a trading range between 2.8 and 3.5 with heavy buying proceeded by light volume at the bottom of the range.
Last edited by
insaf :
12/03/18