Price increase of large tungsten carbide plant

As tungsten prices moved rangebound for several days, large enterprises in the tungsten market announced a new round of prices for long-term orders, breaking the current stalemate.

We are rapidly tiring of the hype of the Circular Economy. This EU buzzword has started to get a life of its own and becomes more annoying as it is touted by more and more apparatchiks who have zero knowledge of how the metals and minerals industries actually work. Beyond industry-specific knowledge (i.e. mining) that they lack, they are totally divorced from the reality that many metals/minerals are not recyclable in whole or part from many of their applications.

As the situation of COVID-19 eases in China, SMM is pleased to welcome back our industry participants to the metals conferences, where we gather and share insights on the nonferrous metal industry.

Prices of tungsten concentrate in China are expected to recover in the second half of the year, driven by a rise in demand from the downstream hard alloy sector, after prices slipped to a bottom level in June due to weak exports and consumption amid the coronavirus pandemic, said Hu Yan, senior tungsten analyst at SMM. 

Southwest China's Yunnan province has unveiled detailed allocation of its first batch of rare earth and tungsten mining output quotas for this year. According to a circular issued by the province’s Department of Natural Resources on Wednesday, Yunnan issued 2,615 mt of mining quotas for tungsten concentrate and 12 mt for rare earth in the first batch for 2020.

As per China Tungsten Association statistics, during first three quarters, China’s tungsten enterprises gain 25.26% rise in revenues and 109.49% rise in profits and taxes.

On November 6th, Ganzhou Tungsten Association published November's market quote for tungsten products.

Jiangxi Tungsten Holding Group lowered its quote for Wolframite concentrate to 103,000 yuan / standard ton.

On November 6th, Zhangyuan Tungsten published their price of long-term order in the first half of November.

Saying the estimated net profit during first three quarters will increase 353%-489% compared with same period of last year.