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Analysis and prospect of tungsten market

In terms of the domestic market, the first half of the year saw a steady and steady growth of the national economy, further progress was made in structural readjustment, new and old drivers of growth were replaced by new ones, and quality and efficiency were steadily improved. Industrial added value of industrial enterprises above the national scale increased by 6.7 percent year-on-year in real terms, down 0.1 percentage points from the first quarter. In the three categories, the added value of mining increased by 1.6 percent year-on-year, manufacturing by 6.9 percent, and the production and supply of electricity, heat, gas and water by 10.5 percent. The value added of high-tech industries and equipment manufacturing increased by 11.6% and 9.2%, respectively, faster than that of industrial enterprises above designated size by 4.9 and 2.5 percentage points, respectively. China's manufacturing purchasing managers' index (PMI) stood at 51.5 percent in June, staying above the 50-percent line for 23 consecutive months, and the overall manufacturing sector continued to expand. With the structural adjustment of the manufacturing industry and the continuous promotion of product upgrading, the growth of strategic emerging industries and the continuous release of infrastructure construction demand, the tungsten market demand will continue to drive, and the domestic tungsten market demand will keep increasing. Ecological protection of red line drawn and safety regulation to strengthen environmental protection, as well as the environmental protection tax levy and resource tax policy implementation, such as tungsten development management strengthening, the tungsten ore mining cost increase rigidity, as well as in tungsten resource quality, tungsten acquisition capacity and control of mining rights, domestic tungsten concentrate production continue to overall smooth, tungsten raw material market supply is still tight, tungsten raw material market supply and demand contradictions continue to improve.
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