Economic Transition Influences Tungsten Heater

In the first half of 2016, world economic growth is lower than the expected, and the recovery power of mining is failure. Due to the further promote of China's economic transition and the shift of overall economic growth, major minerals demand and production scale collective decline.

During January and May in 2016, the fixed assets investment had a 9.6 percent increase from the same period last year, the growth rate hit a new low since 2016. At the same time, international competitiveness of "Made in China" is declining, so export volumes tend to decline, from January to May the national export is 5.3 trillion RMB, which declined by 1.8% year-on-year. Coupled with the domestic tungsten heater and other tungsten products are in the long-term state of overcapacity, resulting in the decreased demand for tungsten products, the domestic tungsten market fall into a recession. It is reported that, the mining industry profits decline substantially. During January and May in 2016, the national mining industry profit is 6.66 billion RMB, which declined by 94.0% year-on-year. Especially for the United States,, after the crisis, its consumption of energy, iron and steel, copper, aluminum, lead and zinc are in secular stagnation.

At present, China has begun to enter the later stages of industrialization, in the dual role of the shift of economic growth and structural adjustment, the future economic would suffer much pressure for a long period. China is the biggest country for the tungsten resource in the world, which is also the world's largest tungsten producer and exporter. But tungsten resources are strategic resources, in order to protect the security of resources, China needs to formulate baseline indicators in accordance with different resources, different times, different circumstances, which relying on technological innovation and institutional innovation, and strive to improve the efficiency of resource use.

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