Jiangxi Leads China Tungsten Industry

China, as the world’s largest Tungsten resource county, holds 58.95% of global tungsten reserves and supplies around 85% of tungsten ore worldwide. In 2012, China newly added 200,000 tons of tungsten (WO365%) reserves and output of 131,100 tons of tungsten concentrate (WO365%), down 3.35% from a year earlier. Exposed to the restrictive policies on control of exploitation amount and export quotas as well as new limited prospecting of resources, etc, the supply and demand in tungsten market is obviously out of balance, and it is expected that China’s output of tungsten ore will see limited growth in the upcoming several years, and that global tungsten market will be still in tight supply according to report China Tungsten Industry Report, 2012-2015.

The slowdown in downstream demand from machining, electronics, real estate markets in 2012 caused the sluggish development of China tungsten industry, with the consumption of tungsten concentrate (WO365%) decreasing by 15.6% year-on-year and the lingering price slump.

Starting from Mar.2013, the demand for tungsten products at home and abroad saw a huge surge, with the selling price on a gradual rise says the report.

In China, major tungsten producing regions concentrate in Jiangxi, Hunan, Henan, Guangxi and Fujian, the combined tungsten concentrate (WO365%) of which occupied over 88% of China’s total in 2012. In particular, Jiangxi came out top in terms of tungsten concentrate (WO365%) output registering 46,500 tons.

In Jiangxi, leading tungsten processing enterprises include Chongyi Zhangyuan Tungsten Co., Ltd, Jiangxi Tungsten Industry Group Co., Ltd, Jiangxi Rare Earth Metals Tungsten Group Co., Ltd., and Jiangxi Xiushui Xianglushan Tungsten Co., Ltd, while in Hunan, the counterparts are represented by Hunan Nonferrous Metals Holding Group Co., Ltd and Chenzhou Mining Group Co., Ltd, and in Fujian, there are Xiamen Tungsten Co., Ltd, etc. All of these industrial players are provided with relatively complete industrial chain. However, most of them suffered from fall in business performance due to the weakened demand in 2012, and sought for expansion towards downstream industrial chain.


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