According to the statistics released by the Association of China Machine Tool, , China machine tool industry achieved a total output value of 717.653 billion yuan, from January to December in 2012, increased by 12.59% on year-on-year basis. The total sales value reached 696.117 billion yuan, rose by 12.34%, the sales-output ratio was 96.99%. A big drop in the increase of sales volume of machine tool industry was obvious, during the time from January to December. Among which, the growth rate of cutting tool manufacturing and metal-cutting machine tool manufacturing drop tremendously, the growth rates fell 32.5% and 17.59% respectively. The exporting value of machine tool was 41.895 billion yuan in 2012 , increased by 17.14% compared with that of last year.

Machine tool industry is one of the application fields of tungsten industry, where tungsten carbide cutting-tool and metal-cutting machine tool account for a big part. The rebound of machine tool industry brings good news to tungsten carbide, the rebound meanwhile indicates the recovery of tungsten industry.

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Waste tungsten prices keep stable and to rise. Currently, the transaction price domestic waste tungsten blade that excluding tax are concentrated in the 168-171yuan / kg in the mainstream,imported blades are 178-181yuan / kg, scrap tungsten drill are 187-191yuan/kg and scrap pure tungsten blocks are 208-210yuan / kg. The mainstream transaction price of scrap tungsten grinding material W that above 70 content is 1.76yuan / degree, raised by 0.03; 50-70 content is 1.66 yuan / degree and up 0.03; 30-50 content is 1.5yuan / degree and up 0.07.

Driven institutions guide price hike, tungsten City rose atmosphere is heating up again. Waste the tungsten materials businesses offer has been raised, turnover improved slightly, scrap the tungsten steel market showed no significant improvement, but the relatively good business mentality, short-term waste tungsten market is expected to continue stable and inflation trend.

International market, overseas mixed tungsten City, the. The evening of the 6th MB Ferrotungsten offer 39.5-40 dollars / kg tungsten, down $ 0.1; the ammonium paratungstate quotes 319.375-342.125USD/metric ton, up 27-39 dollars; flat.

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Affected by the guide price most enterprises in Ganzhou has raised its foreign offer of APT and tungsten powder.But the downstream procurement is still in digestive process.

The APT guide price of Ganzhou Tungsten Industry Association is 19 million  / ton.The offer of Jiangxi Yaosheng has been raised to 18 million / ton this week. The pre-market mainstream price is 17.3-17.7million/ ton and following with the guidance price increases the offer range has been expanded to 17.3-19 million /  ton. However the downstream procurement does not yet fully accepted and the APT market trade is light.

Ganzhou Tungsten Industry Association’s tungsten powder guide price is 295 yuan / kg,the Jiangxi Yaosheng’s has been raised to 285 yuan / kg, Chongyi Zhangyuan being maintained at 275-279 yuan / kg and may be up-regulated this week.

Because of the pressure of demand,wether the tungsten price will continue to rise or not is still uncertain.The current offer range is constantly expanding and market sentiment is strong.How the trend of later period will be is affected by the ore price and consumer demand.

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Buy the bullion physical gold assets should be preserved the way many consumers keen nowadays, around the Spring Festival is also physical gold sales season. But in some places, the reporter interviews found that the gold market is adulterated phenomenon exists, specific performance doped iridium or tungsten gold bars, gold rust spots, erythema chaos, should be vigilant to guard against fraud.

Before the Spring Festival, the reporter went to the Zhongshan Road, Shenyang City, Liaoning Province, a company engaged in the processing of gold and silver jewelry, repurchase, the TM jindian, found gold material, regardless of processing or recycling, are very cautious. The customer sent rings, necklaces or gold bars on a good price, the store owner will be the amount of volume, weighed, and then a little cut look internally. "This market is quite a mess, businesses also have to pay attention to." The store owner said.

Beijing gold trading center in Shenyang business department staff confirmed, including Shenyang, including some of the cities of the gold market, the phenomenon of adulteration. "Specializing in the the gold the adulteration work of people, about 20% of the metal iridium or tungsten mixed with gold jewelry or bullion, this 'synthesis of gold' internal core is iridium or tungsten, wrapped in a layer of gold, because Iridium, the density of tungsten with gold or less, and are difficult to distinguish from the appearance and feel. "he told reporters, this behavior is often precious metals recovery counterparts due to malicious competition.

It is reported that, in the processing of gold jewelry, some shops will be trying to achieve the purpose of "swallowing gold". Gold afraid of fire, fears a water-soluble, "with concentrated nitric acid and concentrated hydrochloric acid in accordance with a certain proportion dubbed a chemical solution that is commonly known as 'aqua regia' to dissolve the gold." Cleaning gold link, simply goldsmiths put this solution out Original the goldsmiths will "shrink", and then after the gold extract. "Swallow" out of the gold will eventually businesses resale profit.

The Liaoning provincial associations activist media commissioner revealed that most of the gold sales in the mall marked the content, regular jewelers gold jewelry are marked with a name and with a certificate of authenticity, qualified are hung in conformity inspection mark. He reminded consumers professionalism required in the purchase physical gold is relatively strong, the consumer wants to buy rest assured that gold must to regular shopping malls, stores, banks and gold trading center, and ask for identification certificate or inspection certificate and invoice, consumers like to buy physical gold fineness doubt, to the relevant professional appraisal department consulting. In addition, if you are cleaning or processing of gold jewelry, try to choose a high degree of credibility goldsmiths processing shop to get the finished product, the best professional jewelers weighing and identification fineness.


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London,LMEX fell 1.92%, aluminum and zinc fell 3.58% and 2.78%,respectively,and other metal prices fell between 1% -2%.Shanghai metal performed better, SMMI fell 1.12%,the largest decrease in aluminum fell 1.73 % ,tin performed better, edged down 0.32%.Last week, the Chinese real estate control again overweight, further strengthened the Chinese economy's weak recovery pattern, therefore, postganglionic metal prepared library needs to postpone QE expected volatility and negative factors of the "currency war" will continue to be metal prices running or will continue to run the pattern of repression, short-term metal price adjustment.

Rare small metal APT rose the APT price this week, last week elevate2,000-174,000 yuan / ton, APT rose mainly due to Minmetals offer strong fundamentals No change much, we believe that the tungsten industry is expected to rebound in March, the fundamentals with the tungsten prices still have room to rise. Stable rare earth market price, the market volume, weak downstream demand, the business is still in observing.

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In recent years, Jiangxi Dayu County comprehensively promote the construction of green mines, vigorously implement technological innovation projects and focus on the development of deep processing of mineral products, promoting energy conservation,  pollution reduction and increasing effective and unified measures to promote “World Tungsten ”to“ Green Tungsten” transformation and development.

Dayu is rich in mineral resources, have been found more than 90 kinds of mineral resources, ranks first in the world in which the tungsten resources, the mining industry is the pillar industry of the county county economy.

In recent years, the county adhere to the path of green development, in accordance with the "Who, who protects, who has destroyed, who govern, who invests will benefit" principle, the establishment of the new mine geological environment protection and management recovery mechanisms, and actively guide the development of mineral enterprises to increase investment in environmental protection, promote the coordinated development of mining development and mine geological environment protection.

County mining enterprises to focus on as a pilot green mine construction, to the point, and to promote mineral extraction to reduce damage to the ecology and to restore the ecological environment in a timely manner. Organization of production process, the establishment of non-polluting, waste, the exhaust production system design, mining, transportation and other sectors to fully implement the "greening" the establishment and improvement of the underground filling system, so the mine waste rock and underground goaf treatment organic combination, to ensure that does not produce a new ecological and environmental problems; Meanwhile, the county mining enterprises to establish a waste water recycling systems, recycling production water from top to bottom several times, reduce production costs, but also to ensure that the wastewater discharge standards; adhere edge using the edge Green, the implementation of a total investment of 10 million yuan environment comprehensive management project, the old open pit and stockpiling of waste slag stone slopes, to become green everywhere orchards, meadows and woodland, effective control of soil erosion avoid trigger a variety of geological disasters.

To get rid of the constraints of resource depletion on the development of mining economy in recent years, the county is actively pursuing a policy support, a team of service, the amount of development costs for follow-up "working mechanism, and vigorously support the leading enterprises of mineral products, and promote a strong mineral resource integration, and constantly optimize the mining economic structure, extend the industrial chain, the growth of industrial clusters, forming a longitudinally extending chain, horizontal gathering hordes of industrial development model, to further enhance the level of development of the mineral resources industry.

The county actively guide the mining and mineral processing enterprises to go mining mining, processing, operating United Way, integration of the factors of production and improve the recovery rate of tungsten ore, ore value-added. Actively promote the resources gathered to deep processing enterprises, the use of deep processing enterprises, capital, technology, management and personnel, and development of mineral resources intensive conservation, efficient transition. Especially since the beginning of this year, the county's use of classified Jiangxi Tungsten and non-ferrous metal processing base opportunity, take the initiative as actively introduce advanced production technology and equipment, and vigorously develop the deep processing, a number of tungsten mineral Goes to projects under construction, the tungsten industry leading enterprises are stepping up product development, increase the size of the high value-added products deep processing, the product market is expected to expand, of tungsten smelting overall effectiveness and the level will be greatly improved, to accelerate the pace of industrial transformation and upgrading.

At the same time, the focus on the comprehensive utilization of Dayu County, turning waste into treasure.
First comprehensive development and utilization of waste rock, waste water and tailings as the starting point, the waste rock, tailings are widely used in building construction, and investment building calcification brickyard, the use of advanced production equipment, development and production of new mill tailings green wall materials, to reduce tailings occupy storage capacity. Based on market demand as the starting point, take the road of common development of traditional industries and cultural industries. Established the the metal crafts Laboratory, Kistler Association, opened up the rocks street, the characteristics and culture of the ancient post road culture, plum Peony Pavilion, culture, science and cultural elements are added to the mineral measure dimension, it used to be used to non-metallic mineral mortar skirting landfill subgrade Nanan stone, carved into a tea tray, stone pot, craft jewelry, so the development of traditional industries and the cultural industries of training to increase efficiency of resource development and utilization. Currently, the county's production of ornamental stones, mineral crystal specimens, entering the top 50 in the country there is 20 cubic meters, with annual sales of nearly a thousand million, has emerged in recent years a number of precious metal crafts factory annual production value of nearly 100 million yuan.

On this basis, Dayu County improve policy control, optimize the development environment, build orderly, healthy and rapid sustainable development of mining economy safeguard mechanism. Development of mining development plan for the county science clearly Dayu mineral resources development and utilization of the basic principles and objectives; establish a diversified, multi-channel mine geological environment protection and management, recovery and accelerate the investment mechanism of the mining industry transformation and upgrading, in order to optimize the structure of the mining industry, promote the healthy and sustainable development of mining economy provide financial security; strengthen the protection of mineral resources and environmental protection, governance supervision and effective maintenance of mining healthy development order.

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Equities research analysts at Paradigm Capital decreased their price target on shares of North American Tungsten (CVE: NTC) from $0.40 to $0.25 in a research note issued to investors on Monday. The firm currently has a “speculative buy” rating on the stock.

Separately, analysts at Jennings Capital reiterated a “speculative buy” rating on shares of North American Tungsten in a research note to investors on Tuesday, January 29th. They now have a $0.30 price target on the stock.

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In recent years, Ganzhou insist on the core of industrialization and as the starting point of the project construction. Do his best to keep tungsten resources brand well ,like “World tungsten” “Rare Earth Kingdom” and so on. Focuse on the main industrial bases, to build the characteristics and advantages of industrial clusters.

Learned on the "two sessions" in Ganzhou, 2012, Ganzhou increase resource integration efforts, to promote access to rare earth industry, the formation of a national technology innovation business model, identified through the provincial level, technology innovation has been increasing; Australia Keta high performance hardfacing material of tungsten-based spraying powder coated blade, tungsten, molybdenum, Sinovel new material Co., ultrafine tungsten powder, the Minmetals Donglin two energy-saving lamps and other project has built and put into operation, and to promote the production chain to the deep processing and high-end applications direction extending ganzhou is listed as the only rare earth development and utilization of pilot cities. 2012, Ganzhou Rare Earth, tungsten materials, and other strategic emerging industries is expected to achieve the main business income of 680 billion yuan, an increase of 20%, is steadily forward to the billion dollar industry targets.

Ganzhou City in 2013, will focus on building national rare metals industrial base, advanced manufacturing base, pay close attention to Maintain industrial planning. Rare Earth special rectification in accordance with the law, and resolutely crack down on the illegal exploitation behavior. Further promote the integration of the rare earth industry, mainly in Ganzhou Rare Earth Group, to build a large-scale enterprise groups of China Southern Rare Earth. Advancing precious metals futures trading center construction, build Ganzhou rare earth, tungsten trading center and distribution center.

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The annual revenue of tungsten industry in Ganxian County reached 6.62 billion dollars in 2012 with year-on-year growth increased by 26.9%. Tungsten industry contributed 7.5 percent to the overall industrial output. Tungsten industry is undoubtedly becoming the leading force of the county’s economic growth, as it were. 

To further develop and improve tungsten industry, local government started with the integration and planning of the county’s tungsten mines, with a view to optimize the available resources. By strengthening cooperation with large institutions like Jiangxi University of Science and Technology, National Tungsten Inspection Center, Municipal Technology Innovation Center and Academy of Science, local government expected to increase the additional value and extent the industrial train of tungsten. Afterwards, local government focused on strengthening the leading enterprises which are of great capacity and potential like Duanxin Material Yuanchixin Material, Jiangwu Tungsten Alloy, with which local government provided preferential policies in finance, water and electricity supplies and talents. To boost the development of these leading enterprises, government agreed to give them priority in offering raw materials, and optimized the resource so as to make them flow into these bellwethers. Meanwhile, government has accelerated, innovation in technology, and has well managed finance to stimulate these enterprises to expand production and upgrade technique and commercialize technological results.    

There are 10 enterprises specializing in tungsten process of which annual revenue has exceeded billion yuan and 4 exceeded 10 million yuan at present.

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Tungsten concentrate prices are expected to gradually rise. By the sluggish downstream demand, the weak trend of prices of non-ferrous metals, carbide as the main downstream tungsten concentrate continued to fall since 2012, the recent 65% wolframite mainstream transaction price stabilized at 113,000 yuan / ton. Taking into account the industry restrictive mining policies continue to strengthen, March domestic enterprises gradually started to bring increased stocking requirements, prices are expected to gradually rise. Long term, continue to promote urbanization will constitute support the demand for high-end carbide as tungsten industry leader, the company's future resource value is huge room for improvement. 

The carbide and Cicai gradually put into operation. The company's high-end NdFeB 2013 production capacity of 2,000 tons, part of the new energy supply to the downstream motor vehicle customers, into the production season, magnetics downstream enterprise orders will ring than to improve the level of short-term positive company earnings improved. In addition, a project the scale of construction in Jiujiang Golden Heron Carbide for an annual output of 3,000 tons of tungsten powder and 2,000 tons of carbide, is expected to put into operation by the end of 2013, the source of profits rely mainly on tungsten alloy bar, high-end products CNC blade and PCB micro-drilling business contributed little to the overall profit of the company. 

Rare Earth integration is expected to enhance the management's confidence. Of Fujian Rare Earth Group in December 2012, the average price of 28.13 yuan / share holdings of shares of 119.47 million shares, accounting for 0.175% of the share capital, and plans to continue to choose the holdings in the next 12 months, according to the market, the proportion of the total share capital between 0.5% to 2%. One of the main integration platform as the the global tungsten industry leaders and the heavy rare earth resources, large shareholder's holdings that have confidence in the company's future prospects. 

Earnings forecasts. The company expects EPS for 2012-2014 were 0.77, 0.93 and 0.20, respectively, corresponding to 53,44, and 34 times the current share price PE valuation higher than the industry average, the specific rating please pay attention to the follow-up report.

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