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Tungsten Ore Supply Situation Is Difficult To Alleviate In Short-Term

The current situation is that tungsten prices experienced after 5-6 months of adjustment, to regain an upward trend since July. Tungsten price at the beginning of August to return to 157,000 yuan / ton year, prices rose 40.9% over year; 2011 January-July average price of 136,000 yuan tungsten / ton, compared with 2010 average price rose 56.8%.

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September 4, 2011 (FPRC) -- The current situation is that prices experienced after 5-6 months of adjustment, to regain an upward trend since July. Tungsten price at the beginning of August to return to 157,000 yuan / ton year, prices rose 40.9% over year; 2011 January-July average price of 136,000 yuan / ton, compared with 2010 average price rose 56.8%. Tungsten supply and demand in the third quarter outlook is still difficult to ease the tension, the factor support the rising price of tungsten has not changed, promoting industrial chain link products were synchronous increase, and we observed further downstream product gross margin expansion.
For digging more in-depth industry investment opportunities of tungsten, we hold a conversation meeting on August 5, especially invited Qiu Wanyi, General Secretary of Ganzhou Tungsten Association, to explain the update state of tungsten industry and future developing trend.

Meeting Minutes
Tungsten ore supply situation is difficult to alleviate in short-term
First, tungsten News. According to statistics of Nonferrous Metals Industry Association, first half of this year's production of tungsten concentrate was 522.73 million ton, an increase of 3.9%, we note that last year's average price of tungsten concentrates was 9 millions. On July this year, the average price was 13.5 million, which rose 50%. Our production increase is only 3.9%, we use the following two aspects to interpret Why it is not match.

First, the state has stopped the approval of the new tungsten mine, quota management was implemented on existing mines, making small increase on production. Secondly, mining industry, especially there is a significant feature on black tungsten mine, that it is hard to increase the production in a short time. It is hard for mining industry to increase production in a short time, which means we need 3-5 years to build a new tungsten mine, but it takes 5 years to meet production volume.

In recent years, there is definitely some incremental, it is mainly from the following three aspects: First, some of the technological transformation in old mines; second is a new so-called multi-metallic mineral by-product, the last few years countries stop approval of the exploitation of new tungsten mine, but other mining products include tungsten, copper, zinc, molybdenum and other metals, tungsten production of its by-products is great, and this is also a source of new mines. The third is the use of tungsten waste and tailings recovery, 80% increment from the latter two cases, which is multi-metal mining by-product, coupled with the use of tungsten scrap.

Like Luanchuan in Henan, Sichuan, Yunnan, Gansu, in recent years the incremental scheelite is more obvious, Hunan Anhua regional waste processing tungsten production has increased a lot. I met a boss dealing with tungsten scrap in Anhua, who said year¡¯s production is 8,000 tons in Anhua, which did not happen previously. Year¡¯s production of a tungsten plant in Luanchuan can be thousands, and it also comes from the increase in recent years.
An overtaken last encounter a boss tungsten scrap, he said there Anhua year's production of 8,000 tons were previously not. Henan Luanchuan a year's production of tungsten plant it there are thousands, is the recent increase in the past few years together.

Due to the limit of cost, in shot time can not happen in a short time at this kind of price. In Australian mining industry, the annual salary of pneumatic drill workers is above 1 million RMB, with high mining cost and wage cost. In America, a scheelite is about to selling, but only in environmental risk margin, $450 need to be paid, so the scheelite is still idle there. The abroad scheelite is hard to start as per current price. This is the general situation of upstream enterprises in tungsten.

It can be seen that the production of APT in downstream enterprise did not expand, due to the tense supply of tungsten concentrate, and APT in part of the enterprise could not be completely used. In fact, there is imbalance in capacity utilization, which means recently the production of tungsten concentrate keeps in tight supply state. The development trend of this industry is adopting smelt trade integration, which means the melting enterprise is coming close to mining, and corporate acquisitions and mergers will be a trend. It is estimated that smelting enterprises will survive only in the cracks, and suffer sad days.

There are many enterprises owning mines in Ganzhou, or is acquiring some mines, and becoming a independent boy including process, ore dressing, smelting. Alloy production is the first half year was a rising trend.


Send an email to Ben of Bango Alloy Technologies Co., Ltd.
086-592-5977282

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