Tungsten Industry Annual Report 2024
2025-04-02 15:25:03 【Print】
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Contents
1. Definition, Type, Distribution, Application 5
1.1 Definition 5
1.2 Type 5
1.3 Distribution 5
1.3.1 Tungsten resource reserve 5
1.3.2 Output propotion and number of operating entities 5
1.3.2.1 Tungsten Concentrate 6
1.3.2.2 Ammonium Paratungstate 6
1.3.2.3 Tungsten powder 6
1.4 Application 6
2. Economy and Policy 7
2.1 China releases 2024 Catalogue of Goods Subject to Export License Administration 7
2.2 China vows to boost construction of basic mining infrastructure 7
2.3 EU extends sanction on Russia until Feb 24, 2025 8
2.4 China sees remarkable results in green transition for industrial sectors 8
2.5 India launches second part of critical minerals auction worth $362 billion 8
2.6 China sets first tungsten ore mining quota for 2024 8
2.7 Nigeria to grant mining licences only to companies that process locally 8
2.8 Henan expects nonferrous industry to peak carbon emissions by 2030 8
2.9 LME bans Russian-origin metal after UK, US impose new sanctions 8
2.10 China's Q1 foreign trade exceeds 10 trillion yuan for first time 8
2.11 China begins second batch of third round of central environmental inspections 8
2.12 China's Jan-Apr production of ten nonferrous metals up by 7.1% YoY 8
2.13 EU and some international financial institutes raise economic growth forecasts 9
2.14 China unveils two-year plan for energy conservation and carbon reduction 9
2.15 Congo demands international embargo on Rwandan mineral exports 9
2.16 China unveils two-year plan for energy conservation and carbon reduction 9
2.17 Kyrgyzstan to extend scrap export ban outside EAEU for another six months 9
2.18 Guizhou's latest round of mineral exploration achieves significant results 9
2.19 China further strengthens administrative safety licensing for non-coal mines 9
2.20 China's annual recycling of recyclable resources up by 1.5% YoY 9
2.21 China's H1 foreign trade again hits new high 10
2.22 China launches inspection of state-owned natural resources assets 10
2.23 China's Jan-Jul production of ten nonferrous metals up by 7.3% YoY 10
2.24 Exploration rights transfer in China up by 194.1% in Jan-Aug 10
2.25 China's foreign trade up 5.3% YoY in Q1-Q3 10
2.26 China's mineral exploration investment rises for third year in a row 10
2.27 China unearths more than 120 mineral deposits in 2023 10
2.28 China launches third batch of third round of central environmental inspections 10
2.29 China's strategic mineral exploration rights transfer up over 200% in Q1-Q3 10
2.30 Kazakhstan extends ban on export of black and non-ferrous metal scrap 10
2.31 Armenia extends metal waste export ban for another 6 months 11
2.32 China passes revised mineral resources law 11
2.33 Russia to extend export quota for scrap metals 11
2.34 Russia increases export quotas for scrap metals outside EAEU 11
2.35 China tights exports control on dual-use items to U.S. 11
2.36 Global economic growth to remain resilient in next two years 11
2.37 Mexico to increase mining taxes by 2025 11
2.38 China updates catalogue of encouraged industries in western region 12
2.39 Mexico to review the ban on open-pit mining bill 12
2.40 DOE to invest in key mineral technology projects 12
2.41 Ten EU countries seek broader sanctions on Russian origin metals 12
2.42 US makes initial anti-subsidy ruling on tungsten beads from China 12
2.43 Salvadoran legislative body overturns mining ban 12
3. Market Movements 12
3.1 Domestic market 12
3.1.1 EXW prices for Chinese tungsten concentrate 65%min 12
3.1.2 EXW prices for Chinese APT 88.5%min 13
3.1.3 EXW prices for Chinese tungsten oxide 99.95%min 14
3.1.4 EXW prices of Chinese tungsten carbide powder 99.8%min 2.5-7μm 15
3.1.5 EXW prices for Chinese tungsten powder 99.95%min 2.5-7μm 16
3.1.6 EXW prices for Chinese ferrotungsten 75%min 17
3.1.7 EXW prices for Chinese ferrotungsten 70%min 18
3.1.8 EXW prices for Chinese tungsten bar 99.9%min 19
3.1.9 EXW prices for Chinese sodium tungstate 68%min 20
3.1.10 Tungsten scrap 21
3.1.10.1 EXW Prices for Chinese tungsten grinding swarf scrap W70%min Co5%min 21
3.1.10.2 EXW prices of Chinese tungsten scrap CNC cutting blade W70%min 22
3.1.10.3 EXW prices for Chinese tungsten scrap anvil 90%min 23
3.1.10.4 EXW prices for Chinese tungsten scrap drill 70%min 24
3.2 Chinese export market 25
3.2.1 FOB prices for Chinese APT 88.5%min 25
3.2.2 FOB prices for Chinese tungsten carbide powder 99.8%min 2.5-7μm 26
3.2.3 FOB prices for Chinese tungsten oxide WO3 99.95%min 26
3.2.4 FOB prices for Chinese ferrotungsten 75%min 27
3.2.5 FOB prices for Chinese tungsten bar W-4 99.9%min 28
3.3 International Market 29
3.3.1 FOB prices for African tungsten concentrate 50%min 29
3.3.2 Prices for European APT 88.5%min in warehouse Rotterdam 30
3.3.3 Prices for European ferrotungsten 75%min in Warehouse Rotterdam 31
4. Company News 32
4.1 Xiamen Honglu breaks ground on 60-bln-meter PV tungsten wire production line 32
4.2 CMOC reports higher Cu-Co-Mo-W-Nb production in 2023 32
4.3 Xiamen Tungsten's annual thin tungsten wire sales up by 219% YoY in 2023 32
4.4 CMOC announces 2024 production guidance 32
4.5 Xiamen Tungsten reports 141% rise in Q1 thin tungsten wire sales 32
4.6 Zhangyuan Tungsten reports higher annual tungsten and tin mined production 32
4.7 Jiangxi Xinsheng suspends APT production 32
4.8 XTC's South Korean tungsten oxide production base put into operation 32
4.9 CMT to acquire Hunan Shizhuyuan for RMB5.2 billion 33
4.10 3 billion yuan tungsten wire project breaks ground in Zhangzhou 33
4.11 OKE to invest in 10-bln-meter tungsten wire project 33
4.12 Hunan Gold's H1 tungsten products output down by 21.3% YoY 33
4.13 CMOC's H1 molybdenum and tungsten output exceeds mid-term guidance 33
4.14 Zhangyuan Tungsten reports lower H1 tungsten powder sales 33
4.15 Jiangwu Ferrotungsten resumes production 33
4.16 Fujian Ganmin resumes ferrotungsten production 34
4.17 Ji'an Dehe Tungsten resumes APT production 34
4.18 Fujian Ganmin halts ferrotungsten production 34
4.19 CMOC's Q1-Q3 tungsten and niobium output exceeds expectations 34
4.20 Jiangwu Stark Tungsten resumes APT production 34
4.21 Jiangxi Yunqi to build 7ktpa ternary precursor project 34
4.22 Apple claims to have requested suppliers to stop purchasing minerals from Congo 34
4.23 Fireweed Metal's tungsten project received government funding from Canada and the United States 34
5. Producers Statistics 34
5.1 Chinese tungsten concentrate producers' statistics 34
5.1.1 Number of Chinese tungsten concentrate producers in 2024 34
5.1.2 Chinese tungsten concentrate producers' production capacity in 2024 35
5.1.3 Chinese tungsten concentrate producers' operating rate in 2024 35
5.1.4 Chinese tungsten concentrate producers' output in 2024 36
5.1.5 Chinese tungsten concentrate producers' inventory in 2024 36
5.2 Chinese APT producers' statistics 36
5.2.1 Number of Chinese APT producers in 2024 36
5.2.2 Chinese APT producers' production capacity in 2024 37
5.2.3 Chinese APT producers' operating rate in 2024 37
5.2.4 Chinese APT producers' output in 2024 38
5.2.5 Chinese APT producers' inventory in 2024 38
5.3 Chinese tungsten carbide powder producers' statistics 38
5.3.1 Number of Chinese tungsten carbide poweder producers in 2024 38
5.3.2 Chinese tungsten carbide powder producers' production capacity in 2024 39
5.3.2 Chinese tungsten carbide powder producers' operating rate in 2024 39
5.3.4 Chinese tungsten carbide powder producers' output in 2024 40
5.3.5 Chinese tungsten carbide powder producers' inventory in 2024 40
6. Customs Statistics 40
6.1 China's tungsten concentrate imports in 2024 40
6.2 China's APT exports in 2024 41
6.3 China's tungsten powder exports in 2024 41
6.4 China's tungsten carbide powder exports in 2024 41
6.5 China's blue tungsten oxide exports in 2024 42
6.6 China's yellow tungsten oxide exports in 2024 42
7.Supply and Demand Outlook for 2025 43
7.1 Supply and demand for tungsten concentrate 43
7.2 Supply and demand for APT 43
7.3 Supply and demand for tungsten carbide powder 43
1. Definition, Type, Distribution, Application 5
1.1 Definition 5
1.2 Type 5
1.3 Distribution 5
1.3.1 Tungsten resource reserve 5
1.3.2 Output propotion and number of operating entities 5
1.3.2.1 Tungsten Concentrate 6
1.3.2.2 Ammonium Paratungstate 6
1.3.2.3 Tungsten powder 6
1.4 Application 6
2. Economy and Policy 7
2.1 China releases 2024 Catalogue of Goods Subject to Export License Administration 7
2.2 China vows to boost construction of basic mining infrastructure 7
2.3 EU extends sanction on Russia until Feb 24, 2025 8
2.4 China sees remarkable results in green transition for industrial sectors 8
2.5 India launches second part of critical minerals auction worth $362 billion 8
2.6 China sets first tungsten ore mining quota for 2024 8
2.7 Nigeria to grant mining licences only to companies that process locally 8
2.8 Henan expects nonferrous industry to peak carbon emissions by 2030 8
2.9 LME bans Russian-origin metal after UK, US impose new sanctions 8
2.10 China's Q1 foreign trade exceeds 10 trillion yuan for first time 8
2.11 China begins second batch of third round of central environmental inspections 8
2.12 China's Jan-Apr production of ten nonferrous metals up by 7.1% YoY 8
2.13 EU and some international financial institutes raise economic growth forecasts 9
2.14 China unveils two-year plan for energy conservation and carbon reduction 9
2.15 Congo demands international embargo on Rwandan mineral exports 9
2.16 China unveils two-year plan for energy conservation and carbon reduction 9
2.17 Kyrgyzstan to extend scrap export ban outside EAEU for another six months 9
2.18 Guizhou's latest round of mineral exploration achieves significant results 9
2.19 China further strengthens administrative safety licensing for non-coal mines 9
2.20 China's annual recycling of recyclable resources up by 1.5% YoY 9
2.21 China's H1 foreign trade again hits new high 10
2.22 China launches inspection of state-owned natural resources assets 10
2.23 China's Jan-Jul production of ten nonferrous metals up by 7.3% YoY 10
2.24 Exploration rights transfer in China up by 194.1% in Jan-Aug 10
2.25 China's foreign trade up 5.3% YoY in Q1-Q3 10
2.26 China's mineral exploration investment rises for third year in a row 10
2.27 China unearths more than 120 mineral deposits in 2023 10
2.28 China launches third batch of third round of central environmental inspections 10
2.29 China's strategic mineral exploration rights transfer up over 200% in Q1-Q3 10
2.30 Kazakhstan extends ban on export of black and non-ferrous metal scrap 10
2.31 Armenia extends metal waste export ban for another 6 months 11
2.32 China passes revised mineral resources law 11
2.33 Russia to extend export quota for scrap metals 11
2.34 Russia increases export quotas for scrap metals outside EAEU 11
2.35 China tights exports control on dual-use items to U.S. 11
2.36 Global economic growth to remain resilient in next two years 11
2.37 Mexico to increase mining taxes by 2025 11
2.38 China updates catalogue of encouraged industries in western region 12
2.39 Mexico to review the ban on open-pit mining bill 12
2.40 DOE to invest in key mineral technology projects 12
2.41 Ten EU countries seek broader sanctions on Russian origin metals 12
2.42 US makes initial anti-subsidy ruling on tungsten beads from China 12
2.43 Salvadoran legislative body overturns mining ban 12
3. Market Movements 12
3.1 Domestic market 12
3.1.1 EXW prices for Chinese tungsten concentrate 65%min 12
3.1.2 EXW prices for Chinese APT 88.5%min 13
3.1.3 EXW prices for Chinese tungsten oxide 99.95%min 14
3.1.4 EXW prices of Chinese tungsten carbide powder 99.8%min 2.5-7μm 15
3.1.5 EXW prices for Chinese tungsten powder 99.95%min 2.5-7μm 16
3.1.6 EXW prices for Chinese ferrotungsten 75%min 17
3.1.7 EXW prices for Chinese ferrotungsten 70%min 18
3.1.8 EXW prices for Chinese tungsten bar 99.9%min 19
3.1.9 EXW prices for Chinese sodium tungstate 68%min 20
3.1.10 Tungsten scrap 21
3.1.10.1 EXW Prices for Chinese tungsten grinding swarf scrap W70%min Co5%min 21
3.1.10.2 EXW prices of Chinese tungsten scrap CNC cutting blade W70%min 22
3.1.10.3 EXW prices for Chinese tungsten scrap anvil 90%min 23
3.1.10.4 EXW prices for Chinese tungsten scrap drill 70%min 24
3.2 Chinese export market 25
3.2.1 FOB prices for Chinese APT 88.5%min 25
3.2.2 FOB prices for Chinese tungsten carbide powder 99.8%min 2.5-7μm 26
3.2.3 FOB prices for Chinese tungsten oxide WO3 99.95%min 26
3.2.4 FOB prices for Chinese ferrotungsten 75%min 27
3.2.5 FOB prices for Chinese tungsten bar W-4 99.9%min 28
3.3 International Market 29
3.3.1 FOB prices for African tungsten concentrate 50%min 29
3.3.2 Prices for European APT 88.5%min in warehouse Rotterdam 30
3.3.3 Prices for European ferrotungsten 75%min in Warehouse Rotterdam 31
4. Company News 32
4.1 Xiamen Honglu breaks ground on 60-bln-meter PV tungsten wire production line 32
4.2 CMOC reports higher Cu-Co-Mo-W-Nb production in 2023 32
4.3 Xiamen Tungsten's annual thin tungsten wire sales up by 219% YoY in 2023 32
4.4 CMOC announces 2024 production guidance 32
4.5 Xiamen Tungsten reports 141% rise in Q1 thin tungsten wire sales 32
4.6 Zhangyuan Tungsten reports higher annual tungsten and tin mined production 32
4.7 Jiangxi Xinsheng suspends APT production 32
4.8 XTC's South Korean tungsten oxide production base put into operation 32
4.9 CMT to acquire Hunan Shizhuyuan for RMB5.2 billion 33
4.10 3 billion yuan tungsten wire project breaks ground in Zhangzhou 33
4.11 OKE to invest in 10-bln-meter tungsten wire project 33
4.12 Hunan Gold's H1 tungsten products output down by 21.3% YoY 33
4.13 CMOC's H1 molybdenum and tungsten output exceeds mid-term guidance 33
4.14 Zhangyuan Tungsten reports lower H1 tungsten powder sales 33
4.15 Jiangwu Ferrotungsten resumes production 33
4.16 Fujian Ganmin resumes ferrotungsten production 34
4.17 Ji'an Dehe Tungsten resumes APT production 34
4.18 Fujian Ganmin halts ferrotungsten production 34
4.19 CMOC's Q1-Q3 tungsten and niobium output exceeds expectations 34
4.20 Jiangwu Stark Tungsten resumes APT production 34
4.21 Jiangxi Yunqi to build 7ktpa ternary precursor project 34
4.22 Apple claims to have requested suppliers to stop purchasing minerals from Congo 34
4.23 Fireweed Metal's tungsten project received government funding from Canada and the United States 34
5. Producers Statistics 34
5.1 Chinese tungsten concentrate producers' statistics 34
5.1.1 Number of Chinese tungsten concentrate producers in 2024 34
5.1.2 Chinese tungsten concentrate producers' production capacity in 2024 35
5.1.3 Chinese tungsten concentrate producers' operating rate in 2024 35
5.1.4 Chinese tungsten concentrate producers' output in 2024 36
5.1.5 Chinese tungsten concentrate producers' inventory in 2024 36
5.2 Chinese APT producers' statistics 36
5.2.1 Number of Chinese APT producers in 2024 36
5.2.2 Chinese APT producers' production capacity in 2024 37
5.2.3 Chinese APT producers' operating rate in 2024 37
5.2.4 Chinese APT producers' output in 2024 38
5.2.5 Chinese APT producers' inventory in 2024 38
5.3 Chinese tungsten carbide powder producers' statistics 38
5.3.1 Number of Chinese tungsten carbide poweder producers in 2024 38
5.3.2 Chinese tungsten carbide powder producers' production capacity in 2024 39
5.3.2 Chinese tungsten carbide powder producers' operating rate in 2024 39
5.3.4 Chinese tungsten carbide powder producers' output in 2024 40
5.3.5 Chinese tungsten carbide powder producers' inventory in 2024 40
6. Customs Statistics 40
6.1 China's tungsten concentrate imports in 2024 40
6.2 China's APT exports in 2024 41
6.3 China's tungsten powder exports in 2024 41
6.4 China's tungsten carbide powder exports in 2024 41
6.5 China's blue tungsten oxide exports in 2024 42
6.6 China's yellow tungsten oxide exports in 2024 42
7.Supply and Demand Outlook for 2025 43
7.1 Supply and demand for tungsten concentrate 43
7.2 Supply and demand for APT 43
7.3 Supply and demand for tungsten carbide powder 43
