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Tungsten and tungsten products are mainly used in the fields of tungsten steel, tungsten materials, tungsten chemicals and cemented carbide, wherein cemented carbide has the hugest demand for tungsten. The demand of cemented carbide for tungsten occupies 72% in the European market, 66% in the Japanese market and 54% in the Chinese market. View Complete Report @ http://www.chinamarketresearchreports.com/114902.html .
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Tungsten is known as "industrial tooth" or "industrial salt" because both of its melting point and specific gravity are much higher than other metals, while its hardness is only second to diamond. Currently, China is the world's largest tungsten ore resources owner and producer. In 2013, China’s tungsten ore reserves hit 1.9 million tons, accounting for 54.3% of the world; its tungsten concentrate (WO365%) output was 138,000 tons, equivalent to 84.5% of the global output.
Tungsten and tungsten products are mainly used in the fields of tungsten steel, tungsten materials, tungsten chemicals and cemented carbide, wherein cemented carbide has the hugest demand for tungsten. The demand of cemented carbide for tungsten occupies 72% in the European market, 66% in the Japanese market and 54% in the Chinese market.
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China's tungsten ore resources concentrate in Jiangxi, Hunan, Henan, Fujian, Guangxi, Gansu and other regions. In 2013, Jiangxi and Hunan shared 66% of the total reserves together.
As China controls the total tungsten resources, manages export quota, purchases and stores tungsten resources, as well as implements other tightening policies, the future tungsten ore supply in China, even in the world, will be tight, and the tungsten output growth will slow down. China's tungsten concentrate output may grow at 3.0%-6.0% in 2014-2017.
Hunan Nonferrous Metals, Xiamen Tungsten, Jiangxi Tungsten Industry, Zhangyuan Tungsten and Jiangxi Rare Earth Metals Tungsten act as the major tungsten producers in China. In recent years, they have extended to upstream and downstream tungsten market through acquisitions in order to enhance competitiveness.
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Xiamen Tungsten is the largest tungsten ore producer in Fujian. In 2013, the company acquired 60% stake of Jiangxi DuchangJinding Mining Co., Ltd. and Yangchushan Tungsten & Molybdenum Mine, so that its new equity reserves of tungsten ore amounted to 33,000 tons. In addition, the company is actively exploring the downstream. It took over 100% stake in Luoyang Molybdenum Alloy Company under China Molybdenum in 2013 for the construction of a project involved with 2,500 tons of cemented carbide and 9 million mining engineering tools.
Zhangyuan Tungsten is one of China's major tungsten ore producers. As of the end of 2013, the company had been able to produce 18,000 tons of ammonium paratungstate and tungsten oxide, 5,000 tons of tungsten powder, 6,000 tons of tungsten carbide powder, and 1,100 tons of tungsten carbide series annually. In 2014, the company is boosting the construction of 400 tons/a High-performance Solid Carbide Drill (Blank) Technological Transformation Project.
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