ABOUT TUNGSTENFollowing flooding of the tungsten market by China in the 1970s, tungsten prices fell sharply from about US$175 per metric ton unit (MTU) in 1977 to less than US$50 in 1986. Prices have risen strongly since about 2002, due to export restrictions and internal demand in China. Price of WO³ ore is currently about US$160-170 per MTU, which is equivalent to US$16-17,000 per tonne.
Tungsten is generally sold on long term contract and, as the graph shows, remained steady throughout the fall in commodity prices during 2008.
The major uses of tungsten are as "hardmetals" or tungsten carbode for tool manufacture, and in production of hardened steel.
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