First, the world economy is undergoing new changes and new variables. Factors of uncertainty are on the rise. Although sino-us trade frictions turn, but the indirect impact on the
tungsten industry should not be underestimated. Second, the enterprise management risk is worth paying attention to. Negative list first, market access, the implementation of the environmental protection tax and resource tax and other policies, as well as the ecological protection red line drawn and the strengthening of production safety and environmental protection regulation, especially tungsten smelting reduction, recycling and pollution prevention and tungsten slag using innocuity disposal etc is facing unprecedented pressure. Secondly, cancel the registration of the change of production scale of mining right, and the expansion of mining capacity, especially the small mines with the capacity less than 30,000 tons, is worth paying attention to. Third, market access to tungsten mining will be "restricted to small and large", which will be conducive to the replacement of old mining resources, promote the large-scale and intensive mining of tungsten resources, protect the ecological environment, but will also bring certain pressure on total tungsten mining control. Fourth, market competition intensified. China's tungsten industry is in a critical period of industrial transformation and high-quality development, facing both development opportunities and severe challenges. Tungsten industry concentration is still not high, low - and medium-end production capacity is still surplus, industrial structural contradictions are still prominent, low - and medium-end product homogenization competition will be further intensified, corporate profitability further differentiation.
