High-end tungsten products
Tungsten belongs to high melting point rare metal or refractory rare metal in the field of metallurgy and metal materials. Tungsten and its alloy is one of the most important functional materials in modern industry, national defense and high and new technology application. It is known as "industrial tooth" and is an important strategic reserve of the country. The reserves of tungsten resources in China reach 1.9 million tons, accounting for more than 60% of the world. At the same time, China is also the most important tungsten producer in the world. In 2016, the output of tungsten ore in China reached 71000 tons of metal, accounting for 82.2% of the total global output. However, China undefineds high-end tungsten products mainly rely on imports. According to statistics, China exports about 1 billion US dollars of tungsten raw materials and semi-finished products every year, but only in the field of tungsten steel tools, China consumes nearly 2 billion US dollars per year, which exceeds the overall amount of raw materials exported by China. If we add mining tools, construction tools, electronic products and so on, our tungsten product chain loses billions of dollars every year.
