Research and Development Prospect of China’s Tungsten Ore Market, 2013-2017 II

According to the statistics, from 2003 to 2011, China’s tungsten ore reserves decreased from 4.2 million tons to 1.9 million tons with the decline of 54.8%. Calculated in accordance with the production capacity in 2010, the current reserves only own 23 years of mining life. “China’s Oil, Gas and Solid Mineral Resources Reserves in 2012”, which was issued by the Ministry of Land and Resources, note that the newly-added tungsten ore was 841,000 tons in 2012.

According to the statistics of China Nonferrous Metals Industry Association, the output of tungsten concentrate was 124,706 tons in 2012, increased by 122,000 tons over 2011 with the growth rate of 2.25%.

In 2011, the revenue growth rate of tungsten ore smelting enterprises was higher than cemented carbide enterprises, and the industry-wide sales revenue exceeded CNY 70 billion with the year-on-year growth of more than 40%. In 2012, the downstream demand was weak affected by global and domestic economic recession, which had a bad effect on tungsten ore market revenue; and the tungsten industry-wide sales revenue declined by 15.6% over 2011.

 
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