The downstream demand for tungsten is mainly in cemented carbides, which can be applied to tools such as cutting blades and are widely used in multiple fields including cars, aerospace, etc. By 2025, China's controllable nuclear fusion project has made significant progress, leading to an increase in the demand for tungsten in core parts such as divertors, thereby driving the growth of downstream demand. The number of tenders for the project has increased significantly, bringing positive impacts to the tungsten market.