Tungsten industry fundamentals continue to be good for long-term optimistic tungsten prices
2023-03-12 11:07:01
Tungsten is a rare metal, an important strategic material, and a rare domestic resource. Tungsten is a high melting point, high specific gravity, high hardness metal, which is an irreplaceable raw material for modern industry. Tungsten is listed as an important strategic metal by the state. It is widely used in the fields of machining, metallurgical industry, mining tools, oil drilling, electronic telecommunications, construction industry, weapon industry, aerospace, etc. The hard alloy with tungsten as the main raw material is more called the mechanical industry and the mining industry. tooth". China has abundant tungsten resources and long-term supply of more than 80% of the global tungsten resource demand. China is the world's largest tungsten resource country, accounting for about 60% of the world's proven reserves of tungsten resources. China is also the world's largest supplier of tungsten resources. Like other China's dominant resource varieties, China does not have a serious mismatch between resource possession and resource supply. In the case of China, China has about 60% of the world's resource reserves, but it has long supplied about 80% of the global resources. We believe that China's resource utilization will gradually shift to meet domestic demand in the future. The downstream demand for tungsten will grow steadily. The downstream of tungsten is mainly the high-end products of traditional industries. With the gradual recovery of the economy and the high-end products, especially the growth and high-end of domestic demand, we believe that global demand for tungsten will grow steadily; supply will be long-term in China. With the limitation of resource protection policies, the fundamentals of global tungsten will be stable and better, and we are optimistic about tungsten prices for a long time.
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