As for the downstream demand for tungsten products, the booming of the mining machine and drilling machine industry continued to increase. According to the statistical data of the China Construction Machinery Industry Association Excavating Machinery Branch, from January to December 2017, the 25 mainframe manufacturing companies included in the statistics sold a total of 140,303 sets of excavation machinery products, which exceeded the sum of sales in 2015 and 2016. 6-year high since 2012.

Industry insiders stated that under the background of tight supply and rising prosperity of the downstream industry, the “opening price” of tungsten prices after the Spring Festival is expected.