Review of Tungsten Market in 2018 and Prospect of 2019
In 2018, Chinaundefineds tungsten industry is in a steady state of operation. The output of the tungsten concentrate is stable, the output of the smelting and processing products is increased, especially the production of the hard alloy continues to maintain double-digit growth; the amount of tungsten in the outlet keeps increasing, the increase of the increase and the increase of the import of the tungsten products; and the price of the tungsten market has fallen back, and the overall stability is overall. In the second half of 2018, in the second half of 2018, the export volume of the tungsten products in China is declining, the price is down, the economic benefit of the enterprise falls back, and the differentiation of the profitability of the enterprise is increased, The economic situation in the industry needs to be further consolidated on a good basis. In 2019, the situation of the steady and tight supply of the tungsten market will continue. the price of the tungsten concentrate is reduced by the resource grade, the cost is increased, the safety and environmental protection pressure is increased, and the like, the falling space is small, the market uncertainty factor is increased, the downstream demand growth continues to slow, the market demand pressure is large, and the price of the end products such as the tungsten intermediate product and the hard alloy are pressure-bearing, The possibility of a large increase is not small. It is expected that the price of the tungsten market will continue to be maintained at a relatively reasonable interval. According to the statistics of the China tungsten industry association (hereinafter referred to as the China Tungsten Association), the output of tungsten concentrate in the whole country in 2018 is 12.60 million tons (folding WO365% tons), with a year-on-year decrease of 3.73%. The main reason for the decline of the absolute number of output is that the production and trade volume of the mineral products of the trade enterprises are included in the production, and the duplicate statistics exist; due to the reasons of safety and environmental protection and the tungsten resources, the part of the tungsten mine is cut off; In 2018, the volume of production and trade of mineral products in the trade enterprises is significantly reduced, the year-on-year decrease of 10.47%, a decrease of 4.82 percentage points from 2017. In 2018, the output of tungsten concentrate increased by 1.94% compared with that of the same-caliber enterprise, with the increase of 1.65 percentage points from the same period in 2017, and the increase of output continued to slow down. The output of the nationwide tungsten concentrate will continue to be steady in 2019. First, resources are exhausted, the phenomenon of replacing the resources is becoming more and more prominent, and the production of the main mining tungsten mine is difficult to increase due to the influence of the factors such as policy control, resource endowment, selection cost and safety and environmental protection. By the end of 2018, Chinaundefineds main mining-mining-mining mountain has been mined for more than 100 years and above, with the average grade of raw ore in the whole country falling from 0.42% in 2004 to 0.28% in 2017. The survey of 34 major tungsten mines in Chinaundefineds tungsten association shows that the grade of the 24 tungsten mine is declining, of which 7 of the tungsten mine resources tend to dry up. Secondly, the comprehensive utilization of the co-associated tungsten resources is reduced. The comprehensive utilization of the co-associated tungsten resources in Henan has decreased continuously for 3 years, from 24498 tons in 2015 to 16578 tons in 2018, with a decrease of 7920 tons and a decrease of 32.33%. Third, the processing yield of the mineral products of the trade enterprises is shrinking year by year. The above-mentioned reduction factors reverse the increase of the output of the main production tungsten ore caused by the technical transformation of the individual regions, and the output of the nationwide tungsten concentrate will remain stable. Despite the impact of trade and friction between China and the United States, in the second half of 2018, the price of the market is down, and the output growth is falling, but the output of the main tungsten smelting and processing products in the whole year of 2018 is generally increasing. According to the China Tungsten Co., Ltd., in 2018, the production of secondary tungstic acid (APT), tungsten oxide, tungsten powder, tungsten carbide, metatungstic acid, hard alloy, numerical control blade, hard surface material, tungsten material, tungsten crucible and tungsten iron in the main tungsten smelting process in 2018 increased by 5.24%, 2.06%, 2.22% and 7.49%, respectively. 9.78%, 13.76%, 33.88%, 21.68%, 16.26%, 2.99% and 1.11%. The tungsten strip, the rough tungsten wire, the high specific gravity alloy and the tungsten electrode are respectively reduced by 3.88%, 17.46%, 38.55% and 12.95% on a year-on-year basis. The production of hard alloy keeps increasing, especially the high-end hard alloy numerical control blade of the rod and the high-end hard alloy is strong, the double-digit growth, the structural adjustment of the product and the continuous promotion of the industrial transformation and upgrading are continued. The technology and product quality of the tungsten smelting in China have reached the leading level in the world, and the high-end development of the high-end industry in the tungsten industry, the continuous improvement of the technology and equipment level of the hard alloy, the quality and the grade of the products and the gap between the market competitiveness and the advanced enterprises abroad are further reduced, It is continuously developing in the high-performance, high-precision and high-value-added direction, and is close to the advanced ranks of the worldundefineds tungsten industry. According to the China Tungsten Co., Ltd., in 2017, the countryundefineds export tungsten product is 3.54 million tons (including hard alloy and folded metal), with a year-on-year growth of 27.29%, an all-time high since 2008. In the second half of 2018, the growth of the export of tungsten in the second half of 2018 is significantly slowed by the impact of trade and friction between China and the United States, but the export of tungsten in the year 2018 is still at a record high and continues to remain high. In 2018, the countryundefineds export of tungsten is 3.92 million tons (including hard alloy and folded metal), with a year-on-year increase of 10.65%, an increase of 16.64 percentage points from 2017. Among them, the year-on-year growth of the export cemented carbide increased by 22.38%, accounting for 20.05% of the total export volume, accounting for 1.92 percentage points higher than that in 2017; the original quota of the export volume increased by 10.01% on a year-on-year basis, accounting for 60.63% of the total export volume, accounting for 0.35 percentage points from 2017, and the export product structure continued to improve. In 2018, Chinaundefineds tungsten product exports (including hard alloy) of US $19.02 billion, a year-on-year increase of 42.51%, of which the export of hard alloy is US $5.71 billion, with a year-on-year growth of 37.19%. Despite the fall in export prices in the second half of 2018, the year-on-year increase in the export prices for the year 2018 is still relatively large, and the overall trend has continued to pick up. The average annual average price of the export tungsten product is 42505.74 USD/ ton (total annual export total amount/ year export total metal quantity, no hard alloy), up 34.11% year-on-year, or 26.49% higher than in 2017.
