China Tungsten Industry Development Situation
- Details
- Category: Tungsten Information
- Published on Wednesday, 30 December 2015 18:28
In the mid-1980, China tungsten ore mining was unauthorized which made international tungsten market turmoil. Tungsten raw material market was oversupply so tungsten price plunged. The price of tungsten fell as lowest as 30 $/mtu and in China tungsten concentrate price fell down to under 10,000.00 RMB/ton. After that, China operated a series of industry regulator policy, for example mining control, resources integration, total amount control and improve industry self-regulation. After China government employed these policies China tungsten industry is now on track.
1. Improving tungsten resources protection
In 2003 to 2012, China total invested 17.2 billion RMB for tungsten ore explored and the new found out tungsten resource (WO3) was nearly up to 30,000,00.00 ton. In 2010, China Ministry of Land and Resources employed strategic action of find tungsten ore which was pay more attention to old mines tungsten ore finding. Beside, the breakthrough has been made in this action. China government not only invested a lot of money in tungsten explored and also emphasis on tungsten resource protection. So the storage of tungsten resource increase every year and in 2009-2011the increase range is the most.
2. Tungsten production capacity keep growing
In 1907, china first time found tungsten ore at west Huashan Mountain in Jiangxi province. After that, in Jiangxi, Hunan, Guangdong and other places found tungsten mines gradually and then input artificial exploitation which formed the early China tungsten industry. In the early 35years before New China establishment, the total production was 237,000.00 ton which accounted for 29.80% of global tungsten production. From 1914 to 2014, global tungsten production was 3,910,000.00 ton and China tungsten production was 1,860,000.00 ton which accounted for 54.08% of global tungsten production.
Especially when China entered new century, tungsten concentrates production has increased rapidly. Due to high-speed development of economy and tungsten price going up so the market demand of tungsten has been grow and the production of tungsten has been increase as well.
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