Buyers relieved by China’s tungsten quota hike
Dec 30, 2010 | 11:32 AM
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Tungsten buyers in the United States see some relief from the higher export quotas allocated by the Chinese government for the first half of 2011. But while the move might ease some short-term supply pressure, market players told AMM it is unlikely to precipitate a price slide.
"It will give the market a little bit more assurance that material is available," one buyer said.
A U.S.-based trader agreed, saying material is becoming increasingly hard to come by. "It's somewhat of a relief," he said. "It was so difficult getting material out. If they didn't increase quotas, the situation would have become untenable."
A second consumer said the export quotas are a good benchmark against which to measure available material since quotas tend to be filled. "They seem to like to fill their individual quotas so that they get them again the next year," he said. ....
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