Found another one. This is from the same European Commission report. It shows the movement of the various metals from 2017 to 2020. It shows tungsten has INCREASED in economic importance while supply risk slightly drops.
Let's move forward to 2022. Defence spending is about to go through the roof, the Nyobolt fast charging battery is about to be commercialised and technology development continues to use tungsten. HAS THE ECONOMIC IMPORTANCE INCREASED AGAIN?
Moving to supply risk - I think this has increased from 2020 to 2022. a) SEVERAL existing European producers closed. b) Sandong has issues (even though marketing increased) c) Chinese grades are falling & d) Russia production likely to be excluded from west. BUT the biggest of all is the CHINA/ US trade standoff. The US has already banned Chinese tungsten being used in military manufacturing from 2026. China may ban sales to West which is currently 80% of world production. Therefore securing noncommunist tungsten is likely to be an increasing supply risk in the near future.
EQR Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
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