Malaga Says Tungsten to Stay Over $40,000

Bloomberg reported tungsten will probably stay above $40,000 a metric ton this year, according to Malaga Inc. (TSX:MLG).

As quoted in the market news:

Ammonium paratungstate, the traded form of the metal, increased 32 percent last year to end the year above $440 a metric ton unit, according to European price data from Metal Bulletin. A metric ton unit equals ten kilograms (22 pounds). Tungsten, used in drill bits, industrial tools and mobile phones, has risen more than sevenfold since 2003.

Click here to read the full Bloomberg report.