The production reduction is not less than 10%. Behind the rare earth explosion, the small variety of non-ferrous tungsten, which has a strong linkage, is also strong and beneficial to each other
Recently, the China Tungsten Industry Association held a forum in Ganzhou for some heads of tungsten enterprises. A total of 20 people attended the meeting of the China Tungsten Industry Association, which accounted for nearly 90 percent of the countryundefineds production capacity. The meeting agreed that the participating tungsten enterprises (groups) jointly maintain the supply order of the tungsten raw material market, and the output of tungsten concentrate will be reduced by no less than 10 percent this year. Tungsten market prices rebounded slightly in the first quarter of this year, and international tungsten market prices continued to remain stable, but after April, due to the lack of confidence in the tungsten market, hidden worries about market expectations, disturbance of overcapacity and other adverse effects, triggered adverse reactions in the market. The supply and demand of tungsten market is weak, the domestic market occasionally deviates from the mainstream price of the market cash transaction, the price falls slightly, and the economic benefit of the industry drops. The output of tungsten concentrate in foreign countries continues to be stable, and the inventory is still low. Due to the decrease of tungsten resource grade, the increase of mining cost and the increase of safety and environmental protection pressure, the supply of tungsten raw materials in China has not changed. Industry insiders pointed out that after three quarters of continuous reading and decline, the confidence index of non-ferrous metal enterprises recovered in the first quarter of this year, with the index of new orders, production and raw material purchases above the critical value, the non-ferrous metal market warming and confidence rising. High-tech manufacturing and equipment manufacturing, infrastructure construction and private investment continue to grow steadily, will continue to stimulate demand in the tungsten market, tungsten market fundamentals have not changed much. As the industry reduces production and promotes supply-side structural reforms in the tungsten industry, it is expected to push up the price of tungsten. On the other hand, driven by the market rare earth plate, the concept of tungsten with high linkage is also expected to follow suit.
