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Review of tungsten market and outlook for 2019

In 2019, national tungsten concentrate production will continue to level off. First, the depletion of resources and the shortage of replacement resources are becoming increasingly prominent. Influenced by policy control, resource endowment, mining and selection cost, safety and environmental protection and other factors, the output of the main tungsten mining mountain is difficult to increase. By the end of 2018, 10 major tungsten mines in China have been mined for 100 years or more, and the average grade of raw ore processed nationwide has dropped from 0.42% in 2004 to 0.28% in 2017.The China tungsten association conducted a questionnaire survey on 34 major tungsten mines and found that 24 of them had lower grade of resources, and 7 of them were exhausted. Second, the comprehensive utilization of co-associated tungsten resources decreased. The comprehensive utilization output of total associated tungsten resources in henan province has declined for three consecutive years, from 24,498 tons in 2015 to 16,578 tons in 2018. The output reduction is 7,920 tons, down by 32.33%. Third, the trade enterprise's mineral product processing output year by year shrinks. The above-mentioned production reduction factors offset the increase in the output of main tungsten mines in some areas due to technical reform, and the national output of tungsten concentrate will remain stable.
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