Tungsten Industry Outlook 2019 - Less Production, More Demand - 1 of 3

The tungsten industry maintains a smooth status in 2018. Output of tungsten concentrate keeps growth, especially cemented carbide keep going with the two-digit growth. Outlook of 2019 tungsten industry, the steady tightening situation of tungsten industry will continue. 

Price of tungsten concentrate will be effected by resource decline, cost raise, as well as increased safety and environmental protection pressure, as more and more countries put attention on the environmental sustainability and care for the influence directly to the environment and the non-renewable of the tungsten resources. Tungsten price has little room to fall. The downstream demand growth continued to slow down, and the market demand pressure was relatively high. Uncertainties of market have been increased. Price unlikely to increase in large scale. Tungsten market price is expected to continue smoothly in a relatively reasonable range.

Global tungsten industry production hit 95,000 tonne in 2017 , up from 2016’s total of 88,100 tonne. 

Despite demand expectations, tungsten prices took a brief stumble in mid-2018, coming to rest at US$340 to US$345 per metric tonne. International output in 2018 is expected to top last year’s total, but if mines and projects are shut down and delayed, total output could be lower, creating scarcity and weighing on investor sentiment. Global production expectations for tungsten were also reduced in late 2018, when Australian miner Wolf Minerals halted production at its Drakelands mine in England due to a bitter and prolonged winter coupled with ongoing funding issues. 

Since last year the largest tungsten output country China has more environmental inspections are scheduled and this is resulting of more tungsten mines closures expected. Looking ahead, demand in tungsten industry for the tungsten concentrate, this critical metal, vital in making steel stronger and more durable is expected to increase, as in China there are more stringent building regulations, regarding the strength of industrial steel are implemented. However, while Chinese consumption of the metal is stepping up, so too are environmental regulations around extracting tungsten, creating an air of uncertainty when it comes to output. 

Outlook In 2019, tungsten concentrate output will tend to stable in nationwide. As Resource control, rare resource, acquisition cost, safety and environmental factors. Main tungsten mining is hard to growth. Global tungsten industry is propelled by the extensive usage in a broad range of industries. Such as metal working, mining, aerospace, automotive, etc. Tungsten also employed in manufacturing different alloys such as tool steel, high-speed steel, and many more. The product is also used in the fabrication of carbides, which are popularly used as cutting tools, drill bits, and for other such high strength and high temperature applications. Pure tungsten products are used in the electronic industry whereas salts, sulfides, or oxides obtained from the product finds usage in the chemical industry in manufacturing lubricants, catalysts, etc. 

Tungsten Industry Outlook 2019 - Less Production, More Demand – 2 of 3

Tungsten Industry Outlook 2019 - Less Production, More Demand – 3 of 3

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