China SRB Decides to Buy up Tungsten Concentrate Reserves

Apr 20, 2016 13:16

Source:SMM

China’s State Reserve Bureau decided to build tungsten concentrate reserves April 19, SMM sources report.

SHANGHAI, Apr. 20 (SMM) - China’s State Reserve Bureau (SRB) decided to build tungsten concentrate reserves April 19, SMM sources report.

The SRB did not disclose any details as to purchase volume and price due to strategic and confidentiality requirements. But SMM understands this round of buyout will target at scheelite concentrate.

The SRB decided to build 11,000 tonnes of wolframite concentrate on April 7. This has driven up China’s tungsten product prices. The second round of tungsten reserve purchase is also expected to positively affect the market.

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China SRB Decides to Buy up Tungsten Concentrate Reserves

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