UK metals broker - Hallgarten updated their metals outlook for...

UK metals broker - Hallgarten updated their metals outlook for 2022

Tungsten had been late to the metals party, scarcely participating in 2020, but since then has been on a long steady march higher. The fear during the long Tungsten slump was that a sudden (and steep) reactivation in the price of APT (Ammonium Paratungstate) would then cause an in rush of wannabes. This slow price build-up has meant the Tungsten recovery has flown under the radar of the easily excitable carpetbaggers in the promotorial space. Scarcely a new name has been added to the ranks. Meanwhile buyers want more certified non-Chinese Tungsten production
sources.

Tungsten should continue to creep higher and well may be the stealth performer of 2022. The current price is $340, and we are positing a price of $355 per MTU by year end as some projects, long in the pipeline, finally come into production but without upsetting the apple cart of current low non-Chinese production. Iberia, Brazil, Australia and South Korea should boost the proportion of Tungsten flow from outside China.