In the first half of the year, China's tungsten industry continued its steady and good trend since last year. The output of tungsten concentrate continued to remain stable. The output of smelting and processing products grew steadily, the market demand continued to recover, the export of tungsten products continued to grow, and the price continued to stabilize. During the operation period, the fluctuations narrowed and the business benefits continued to improve.
According to the statistics of China Tungsten Association, one hundred and twenty three tungsten enterprises achieved operating income growth of 26.01% in the first half of the year; profits and taxes increased by 39.02% year-on-year; profits increased by 55.94% year-on-year; and exports of tungsten products reached 17,370 tons (tungsten metal), up 14.94% year-on-year. Exports earned US$838 million, a year-on-year increase of 64.39%.
Overall, the current downstream demand for tungsten at home and abroad is stable, the output of tungsten concentrate is growing steadily, the contradiction between supply and demand is further alleviated, the safety and environmental protection supervision is strengthened, and the cost is rising to effectively support the stable operation of the tungsten market. The tungsten market price is expected to fluctuate in a narrow range and will continue to operate smoothly.