Irrespective of whether US demand is 3000-4000 or 7000 -8000, the current available global supply excluding China and Russia is 13000 to 14600. As the rest of the world can still source their tungsten from China and Russia, there doesn’t really appear to be a supply demand imbalance that so many of the recent mainstream media articles are stating.
I’m just trying to understand why the tungsten price isn’t rising so while we can agree to disagree, the tungsten market and price will be the real determining factor on whether there really is a shortage. At this point in time, the market clearly doesn’t think so… at least for now.
This situation does however create a scenario where US companies that used to source their tungsten from China will now need to look for alternative sources which may help EQ secure some offtake arrangements.
As I mentioned earlier, what’s more important is whether EQR can continue to increase production and recoveries to be profitable even at current tungsten prices.
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