Supply

摘要

Chinese diversified metals producer China Molybdenum (CMOC), also known as Luoyang Luanchuan Molybdenum, reported lower tungsten output during the first quarter of 2021, despite being in line with its production guidance of 6,900-8,400t of metal equivalent for 2021. CMOC produced 2,091t of metal equivalent of tungsten in January-March 2021, down by 11.2pc from 2,355t a year earlier, on lower tungsten metal grade contained in its tungsten-molybdenum reserves. Total sales of tungsten rose by 14.5pc on the year to 2,041t in the first three months of this year, up from 1,782t in the same period of 2020.