Export Volume of Domestic Tungsten Products Reach 18523 Tons

According to research statistics, the export volume of tungsten products in China increased gradually from 2015 to 2017. In 2017, the export volume of tungsten products in China was 29,532 tons, a year-on-year increase of 31.4%. From January to July 2018, China's export volume of tungsten products was 18,523 tons, a year-on-year increase of 3%

During the period between 2015 and 2017, the export value of tungsten products in China showed an upward trend. In 2017, the export value of tungsten products in China was US$769.1 million, a year-on-year increase of 40.1%. From January to July 2018, the export value of tungsten products in China was US$659.2 million, a year-on-year increase of 54.3%.

According to the statistics from China Tungsten Industry Association, domestic and international demand for tungsten continued to recover in the first half of 2018. In particular, the demand of the tungsten market in Europe and Asia is strong. The export volume of tungsten in the first half of the year continued to grow. Fifty major tungsten enterprises exported 17,370 tons of tungsten products (including tungsten carbide and hard-surface materials), which increased its year-on-year export volume by 14.94%. The export value was 838 million US dollars, with year-on-year growth of 64.39%. 3,995 tons of tungsten carbides were exported, with year-on-year growth of 20.84%. As for the export value, it was up to 244 million US dollars, a year-on-year growth of 39.58%. In addition to tungstic acid, tungsten carbide and mixed materials, the export volume of tungsten smelt and processed products in the first half of the year has increased significantly.

China Tungsten Association said that the global economy continues to show a good trend of recovery, but the risk factors have increased. The recently announced and anticipative policies of increasing tariffs published by the United States and the vengeful measures of trading partners may lead to the possible escalation of trade action, which may slow the economic recovery process and affect the growth prospects of the medium term. However, the demand for tungsten in Europe remains strong, so the Sino-US trade war will not have a direct impact on the tungsten market. The mines of foreign countries have not resumed normal production, and the progress of new project is slow. In addition, the expectation for the release of new capacity is not high. The output of foreign tungsten concentrates remains stable, and the stock level of raw materials is still low. What’s more, the situation of tight supply in the market has not changed fundamentally.

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