[Ferro-Alloys.com] China has the richest tungsten resources in the world, its tungsten ore reserves account for 58.95% of the global reserves and it provides the tungsten supply of about 85% for the global every year. In 2012, the new increased resource reserves of tungsten (WO 365%) were 200,000 tons and the output of tungsten concentrates (WO 365%) was 131,100 tons, year-on-year decline of 3.35%. with the influence of limited new explored resources, controlled total mining and policy limitation of export quotas etc., the supply & demand contradiction of tungsten is very obvious. It is predicted that the growth space of tungsten ore output in China limited in a few years and the global market supply of tungsten will still take on a tight situation.

 

Jiangxi, Hunan, Henan, Guangxi and Fujian etc. are the major production regions of tungsten in China. In 2012, the total output of tungsten concentrates (WO 365%) in the above provinces accounted for over 88% of the total output of tungsten concentrates in China, among which, Jiangxi ranked the first with the output of tungsten concentrates (WO 365%) of 46,500 tons.

 

In 2012, the total output of tungsten concentrates in China was 140,000 tons, with year-on-year growth of 4.1%. From the view of resources, the concentration ratio of tungsten concentrates is relatively high. In 2012, the tungsten concentrates output of China Minmetals Corporation and Ganzhou Tungsten Industry Association (called GTIA for short) was respectively 40,000 tons and 25,000 tons, accounting for 29% and 18% of the total output of tungsten concentrates in China, and the total output of them accounted for nearly half of the total output of tungsten concentrates in China. If the commerce is considered, the influence and control force of China Minmetals Corporation is larger. It is estimated that the supply of Chinese domestic tungsten concentrates controlled by China Minmetals Corporation accounts for over 50%. In addition to China Minmetals Corporation, the larger ones are respectively GTIA accounting for 18%, China Molybdenum Co., Ltd. of 7%, Xiamen Tungsten Co., Ltd. of 5% and Zijin Mining Group Co., Ltd. of 4%; others are the small enterprises.

 

In 2012, as the downstream demand for tungsten in the machinery processing, electronics, real estate and other market, got slowly, China's tungsten market developed slowly, consumption of tungsten concentrates (WO365%) products with year-on-year decline 15.6%,prices of products continuing to fall.

 

It is predicted that the compound growth of demand for tungsten in China will be about 8% and market demand for tungsten will reach 110,000 tons by 2017.