China SRB Plans to Buy 20,000 Tonnes of Tungsten Conc. for Reserve in 2014

SHANGHAI, Jan. 14 (SMM) – China’s State Reserve Bureau (SRB) plans to stockpile tungsten concentrate with 20,000 tonnes of purchases from three leading producers this year, Shanghai Metals Market has learned.

The SRB plans to buy 18,000 tonnes of tungsten ores from China Minmetals Rare Earth Co., 1,000 tonnes from Chongyi Zhangyuan Tungsten Co. and another 1,000 tonnes from Xiamen Tungsten Co., according to SMM’s research team.

Purchasing price is expected by SMM to be no less than China Minmetals’ current reference price for 65% grade wolframite which is 142,000 yuan ($23,310) per tonne.