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According to China Tungsten Industry Association accounting for sluggish market, tungsten enterprises are in dire straits and trigger great worries in the industry. Accordingly, CTIA calls for relevant policies for strategic tungsten reserves, and resource reserves and commercial reserves should act both ways.
A CTIA official said domestic tungsten industry is suffering from weak demand, bleak export, depressing prices and slim benefit. In the first three quarters, China has shipped out 20,000 tonnes of tungsten metal, down 7.4% YoY with the total export value slipping 9.1%YoY to USD 690 million. Meanwhile, main tungsten export products of tungsten concentrates, ammonium paratungstate and Ferro-tungsten have slid more than 35% YoY, 32% YoY and 18% YoY in export price respectively.
In the first half of year, miners and melting plants in the total 83 major tungsten producers have sharply lost profit by 30.4% and 150.7%YoY expect those making cemented carbide. After October, tungsten export plummeted quicker. Price of tungsten concentrates which has dived below CNY 60,000 per tonne now, 55.6% lower than the peak high in 2006, plunged over 40% in this year and over 30% in October.
At present, tungsten businesses are in great peril with losses spreading, and some makers have been forced to suspend or cut production. Therefore, CTIA suggested that tungsten enterprises should firstly focus on investment assurance, and then promote optimization of industrial structure with more joint work. CTIA also appeals to government to take measures of strategic tungsten reserves.
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