The week-long Lunar New Year holiday slowed down European and Chinese tungsten markets last week with little spot activity taking place.
Chinese, European markets were subdued during Lunar New Year holidays Week-long holidays expected to tighten tungsten supply further Expectations of price increase after China returns to the market China's tungsten market was quiet last week amid thin trading as most market participants were away for the Lunar New Year holidays, which started on February 15. Metal Bulletin's latest assessment of China's tungsten concentrate 65% WO3 in-warehouse price was 110,000-111,000 yuan ($17,348-17,506) per tonne on Wednesday February 14, unchanged week on week. However, there were market expectations of price increases in the coming weeks. "Most market participants are not working this week but based...