At present, tungsten carbide is at a high price, there is some short-term upside but not much space

At present, tungsten carbide is at a high price level, and there is some short-term upside, but not much space. China is the world’s largest tungsten reserves and has sufficient supply for carbide roller with globalized material price advantage.

Due to the nature of tungsten products, price stability is strong. In recent years, tungsten prices have been less volatile, mainly because about 70% of tungsten’s downstream applications are as tools, not as products, and the demand for the product may fluctuate drastically due to changes in downstream industries. The low price of wolframite concentrate in 2017 was 75,000 yuan/ton in July 2019, and the current price is 116,000 yuan/ton. Domestic prices are influenced by the guide price

We have a complete tungsten industry chain with rapid growth in back-end production capacity. China is the only country in the world with a complete tungsten industry chain, and has formed a comparative advantage with international competitiveness in the fields of mining, processing and metallurgy, and the industry structure continues to be optimized.