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In December 2008, Japan's oil and gas and metals company signed a purchase agreement for 40 tons (tungsten metal) APT, which was delivered in March this year. Together with this shipment, Japan's tungsten inventory will increase to 262 tons of tungsten, which is 20.1 days of inventory. This means that the company will also purchase 21.9 days of inventory, equivalent to about 285 tons of tungsten.
For the bidding procurement to be held, JOGMEC stipulates the highest bid price, and the bidding unit stipulates 1 ton of tungsten, the minimum bid quantity is 10 tons, and the delivery date is until the end of January 2010. Qualified bidders must be Japanese companies, and the production or consumption of ferro-tungsten for more than three years is more than 30 tons.
The Japanese government began to tender for tungsten reserves at the end of the month.
On August 18th, the Japanese government will bid for a batch of ferro-tungsten to increase the country's tungsten reserves. The government's Japanese oil and gas and metals company (JOGMEC) is responsible for the bidding for the national tungsten reserve. Currently, JOGMEC has not announced the quantity of purchases. According to previous government statements, the country may have to purchase 42 days of tungsten stock reserves.