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Freezing rain and snow hit the tungsten mines, production dropped prices

Number of visits: Date:4/28/2012 09:51:36 AM

Since January 10, in southern China suffered continued to weather attacks from snow and ice, snow and ice a wide range of intensity, long duration, heavy losses caused by disasters, since the rare case of 50 years. Freezing rain and snow weather to China's 19 provinces (autonomous regions, municipalities), tungsten miners producing areas in China - tungsten ore enterprises in Jiangxi and Hunan has been hit hard In addition, the resources and Larix counties in Guangxi, Fujian Nanjing and Guangdong to tungsten mining enterprises also suffered a severe snowstorm, the corporate power facilities severely damaged, resulting in a long time discontinued mining recovery reconstruction difficult, tungsten concentrate production for the first quarter is expected to be severely affected.
Number of tungsten mining enterprises in Jiangxi, Hunan and the annual output of tungsten ore concentrates account for more than 80 percent of the national total, and tungsten mining enterprises away from the city, some production work area is also at higher elevations, cold mountains, and ice storms is particularly serious, The internal power supply system to restore the reconstruction of large, difficult, and at the same time by the control of large power grids channel recovery, recovery time to rebuild the industrial power system is relatively long. It is understood that the direct economic losses of the affected tungsten mining enterprises are mostly more than $ 10 million.
It is reported that the tungsten mine of Jiangxi Tungsten Industry Group Co., Ltd., Jiangxi Province the Xiushui Xianglushan tungsten industry limited liability company, Shizhuyuan Nonferrous Metal Co., Ltd., and Hunan Yaogangxian Mining Co., Ltd. and several large annual output of one thousand tons the tungsten mine, and Rucheng, Hengyang, Hunan to the tungsten mine, are currently in a shutdown state. Affected tungsten mine own diesel generating sets or the use of the emergency area of ​​isolated operation, the power supply is to ensure that the underground drainage and production security of electricity and maintain the basic needs of the workers' power consumption, while stepping up the restoration and reconstruction of production and supply system, open up the channel with the grid. It is understood that the tungsten mines in Chenzhou and Ganzhou is expected to resume production in late March, the most affected tungsten mine is expected to be in early April to resume production. At present, the tungsten smelting and processing enterprises in the affected areas due to the neighboring city, has begun to resume production.
Freezing rain and snow weather interrupt the production of tungsten ore, causing serious damage, but the disasters have led to sharp drop in production of tungsten concentrates, will promote and enhance the stability of the market price of tungsten.
Before the holiday, the market price of tungsten downward trend. On the one hand, the circulation and the smelting and processing enterprises cautious, regulation and control raw material inventory, weak demand; the other hand, the impact of tight monetary policy, raw material enterprises to accelerate capital returns, the end of repayment, there is a lower price sell-off phenomenon. Although inventories of raw materials, but a limited number of still normal inventory. Festival production recovery, the start of tungsten raw materials and tungsten products procurement, demand has picked up, but by the impact of snow and ice storms, reduced tungsten concentrate production, shortage of supply relative market tungsten concentrate, therefore, the recent market price of tungsten rebound , an upward trend is inevitable.
According to the statistics of the China Nonferrous Metals Industry Association, nearly two years, the National tungsten concentrate production remained at about 80,000 tons, 80,438 tons of tungsten concentrate production in 2007, an increase of 0.72 percent, slowed down by 8.08 percentage points, the market supply and demand balance . It is based on the fundamental market factors, the market price of tungsten concentrates for two consecutive years running smoothly. In 2007, the annual average sales price of the domestic tungsten concentrate of 98,900 yuan / ton, down 8.67 percent, lower volatility, but by the National tungsten product export tariffs and tungsten Industry policy control effects, the price come down late last year, the minimum down to 85,000 yuan / ton. At present, the transaction price of tungsten concentrates has risen to more than 95,000 yuan / ton, February mainstream price of 98,000 yuan / ton, the same time, international prices of ammonium paratungstate, tungsten, iron began to increase.

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