Shanghai Nonferrous Metals News
The MNR (Ministry of National Resources) recently published the total tungsten mining quotas for 2024, at 114 kt (converted to 65% WO3), up by 2.7% y-o-y. The total quota includes a first batch of quotas of 62 kt published in March 2024.
Mainstream wolframite concentrate (WO3≥65%) was being quoted between RMB 137,500~138,500/t, with average prices at 138,000/t. Wolframite concentrate prices have risen rapidly by RMB 8,500/t from RMB 129,500/t – a low point on 29th July – to the current level of RMB 138,000/t, up by 6.56% in less than four weeks.
