China has always attached a great importance to the control of tungsten industry. China has carried out the planned unified management in mining, dressing and smelting, processing and export and other aspects. Although China has limited the output of tungsten heater, this method does not work well. Due to the presence of the phenomenon of over-exploitation, the original tungsten of China still in an oversupply situation, 89% of tungsten mining business had a great deficit in 2015, but the situation gradually improved recently. However, the fluctuation of exchange rate would have a great impact of tungsten heater export recently.
According to the 2015 U.S. Geological Survey statistics, China's tungsten reserve was 1.9 million tons, accounting for 57% of total global reserves. The output of the Chinese tungsten was 7.1 million tons, accounting for 81% of the global output. According to statistics of the Ministry of Land and Resources of the People¡¯s Republic of China, tungsten reserves are mainly concentrated in Jiangxi and Hunan provinces, accounting for 59.2%. From the aspect of export structure, the structure of China's tungsten industry gradually moving towards high-end, and the competitive gradually become strong, but there is still a huge gap compared with developed countries. Carbide, as the greatest applications of wolfram resource, China's output of 2014 was 24,900 tons, accounting for 40% of the world total, but total value of output was only 20% of the world.
In the future, ¡°Regulations on the Management of Rare Metals¡± is expected to be introduced, the management of industry would rise to the level of the State Council, and this policy will have the force of law. It is expected that a series of measures and policies is expected to contribute to the rising of the price of tungsten products to improve the supply and demand structure.
