2017 Tungsten Market Review and 2018 Outlook

In 2017, after experiencing a downturn in the past three years, the tungsten market has gone out of the market's “shade” and prices have gradually returned to rationality. The industry situation has continued to be steady and good. Its performance is as follows: First, the output of tungsten concentrate remains stable, and the output of smelting and processing products continues to grow, especially the growth of high-end cemented carbide production is strong. Second, exports of tungsten products maintained growth, and imported tungsten products continued to decline. Third, the market price of tungsten fluctuates and the price of tungsten concentrate has returned to more than 100,000 yuan/ton, which is the highest level since April 2014. Fourth, the economic benefits of enterprises have improved markedly and reversed the loss for two consecutive years.