TUNGSTEN PRICING

China contributes about 80 percent of the world tungsten supply.  Due to tougher mining regulations and the depletion of reserves within China, the amount of tungsten mined has dwindled.  In addition, Chinese companies offer less tungsten for export as it processes more of the material to make cemented carbides and machine tools for domestic use.

The world market price for tungsten increased from around $50 US per MTU to the current level of $265 US per MTU. 

An MTU is a METRIC TONNE UNIT.   It is equivalent to ONE HUNDREDTH (1/100) of a TONNE (1000 kg.).  In other words, take 1000 Kilograms (note: 1000 kilograms = a Tonne) and divide by 100 to obtain the result of 10 Kilograms (a Metric Tonne Unit equals 10 Kilograms).

 Note: 10 Kilograms (which equals a MTU) = $250 or 1 Kilogram equals $25.

• Tungsten occurs in the natural state only in the form of chemical compounds with other elements.
• Many tungsten bearing minerals exist, only two of them are important for industrial use, namely wolframite and scheelite.

PRICING BASED UPON AMMONIUM PARATUNGSTATE (APT)

• Ammonium Paratungstate (tungsten refining) and abbreviated as APT.
• Primary Tungsten Sources (tungsten concentrates) have marketable ore concentrates of Scheelite and   Wolframite which contain typically 65 – 70 % WO₃ (Tungsten trioxide).
• Most tungsten concentrates are processed chemically to ammonium paratungstate (APT)  [(NH₄)₁₀W₁₂O₄₁ ^. 5 H₂O].  APT is the main intermediate and also the main tungsten raw material traded in the market.
• Currently the market has relied mostly upon the APT quotation as a price guide since APT is the product traded in the largest quantity.