Tungsten market poised for growth

Tungsten Investing News reports the growth in tungsten markets have been relatively good as its need for civil and war industries as well as defense have been rising around the world.

Asia Pacific represents the largest and fastest growing portion on the market. End users largely depend on China, which represents over 85 per cent of the worldwide tungsten supply. China is also the largest stockpile for tungsten in the world, accounting for over 55 per cent of the world’s reserves. Of late, China has significantly reduced tungsten export due to its growing domestic requirements and restrictions on exports of certain metals; therefore, growth of the tungsten market depends largely on new discoveries and explorations on the international scene. The tungsten market is anticipated to cross 45,000 metric tonnes by the time 2010 rolls out. By the time 2012 hits, the tungsten market is projected to reach 91,000 tonnes.

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