Summary of the economic operation of tungsten industry in 2008
In 2008, the effects of macroeconomic regulation and control policies such as the increase in export tariffs on tungsten products were increasingly apparent. The global financial crisis continued to spread, exports declined, prices fell, and the economic growth rate of the tungsten industry slowed down markedly, with negative growth in benefits.
Tungsten mining continued to maintain steady growth in smelting and processing
The state has continuously strengthened the macro-control of tungsten mining. Since 2002, the Ministry of Land and Resources has implemented total control of tungsten mining and stopped handling new tungsten mining licenses. The output of tungsten concentrates in China has remained stable. In 2008, the Ministry of Land and Resources and other nine ministries and commissions jointly launched a national “review†action to rectify and standardize the development of mineral resources, and seriously investigated and dealt with various illegal and illegal activities in the field of tungsten mineral resources development, and suffered severe snow and ice disasters in the south at the beginning of the year. There is no large increment.
According to the statistics of the Nonferrous Metals Industry Association, in 2008, China's tungsten concentrate production was 84,470 tons, an increase of 5.01% over 2007, an increase of 4.94 percentage points. Among them, the accumulated tungsten concentrate production in Hunan and Guangdong decreased by 10.86% and 1.42% respectively, and continued to decline; the accumulated tungsten concentrate production in Inner Mongolia, Zhejiang, Jiangxi, Henan, Guangxi and Hubei increased by 11.75% and 5.59% respectively. 5.52%, 83.50%, 37.95% and 68.94% continued to grow.
According to the statistics of the Tungsten Association, the output of tungsten smelting and processing products has increased or decreased, and the overall growth has continued. Compared with 2007, the output of major tungsten products such as tungsten powder, tungsten rod, fine tungsten wire and hard alloy increased by 10.05%, 3.03%, 7.55% and 3.03%, respectively; the output of ammonium paratungstate, tungsten oxide and tungsten iron decreased by 3.46 respectively. %, 8.01 and 8.33%.
Sales revenue growth fell, achieving a sharp decline in profits
Since October 2008, the effects of national macro-control policies such as tungsten export tariffs and resource tax hikes and the impact of the global financial crisis on the tungsten industry have become increasingly apparent. Exports of tungsten products have declined and prices have fallen. The overall benefits of the tungsten industry have been severely affected. Some tungsten enterprises are struggling to manage their operations, and their operating losses have expanded. Some tungsten mines and tungsten smelting processing plants are in a state of suspension and semi-discontinuation.
The sales revenue of the whole industry was 39.1 billion yuan, an increase of 9.83% over the 35.6 billion yuan in 2007. The growth rate slowed down by 4.63 percentage points; the profit was 3.84 billion yuan, down 43.03% from the 6.74 billion yuan in 2007.
Exports decline import growth, international tungsten prices are weak
Under the "dual" regulation of tariffs and quotas, China's tungsten exports suffered a "one-hundred-year" global financial tsunami, the demand for international tungsten market weakened, the export volume of tungsten products declined, the import volume continued to grow, and the import and export prices fluctuated slightly. Tungsten enterprises, especially tungsten export trade enterprises, have undergone severe tests and challenges.
In recent years, the state has continuously strengthened macroeconomic regulation and control of tungsten products exports, and intensively introduced tariff control policies for tungsten products. From the export tax rebate, lower tax rebates, cancellation of tax rebates to the current collection and increase of temporary tariffs on exports, the tungsten export tariff policy has undergone a major transformation. The Customs Tariff Commission of the State Council issued the Notice on the Tariff Implementation Plan for 2008 (Tax Committee [2007] No. 25). From January 1, 2008, the levy and increase of the provisional tariff on tungsten products to 5%-20 %; The Ministry of Commerce continued to implement quota management for tungsten exports and reduced export quotas year by year. In 2008, tungsten export quotas were 14,900 tons (equivalent to metal), down 3.25% from the previous year.
According to customs statistics, in 2008, the export of tungsten products was 27120.5 tons (metal content, excluding hard alloy), which was 9.34% lower than the 2,9914.8 tons in 2007, a decrease of 3.68 percentage points over 2007; the export volume was 930 million. The US dollar was down 10.52% from the US$1.039 billion in 2007, a decrease of 5.81 percentage points from 2007. Imported tungsten products 6629.8 tons (metal content, containing tungsten concentrate), an increase of 11.72% over 2007, of which 5217.9 tons of imported tungsten concentrate, an increase of 8.82% over 2007; imports of 177 million US dollars, an increase of 7.18% over 2007.
At the beginning of the year, the export tariff of tungsten products was raised and the snow and ice disaster in the south caused the export price of tungsten products to rise slightly. Then it fluctuated slightly and fell sharply in the fourth quarter. The average monthly export price of the main export tungsten tungsten tungstate, tungsten iron and tungsten wire was 31653.2 US dollars / ton of metal, 35868.5 US dollars / ton of metal and 80794.5 US dollars / ton of metal respectively; the lowest price was 28404.6 US dollars / ton of metal, 23952.6 USD/ton of metal and 7,263,9.3 US dollars/ton of metal, the largest declines reached 11.44%, 15.95% and 11.23%.
The annual average price of imported tungsten (excluding tungsten concentrate) is 5,8502.3 US dollars / ton of metal, down 4.23% from 2007. Among them, the annual average price of imported tungsten concentrate is 18140.9 US dollars / ton of metal, equivalent to 9342.6 US dollars / WO365% tons, lower than the annual average sales price of domestic tungsten concentrates, down 9.19% compared with 2007; the price of imported tungsten bars is 124110.7 US dollars / ton, Compared with 2007, the price decreased by 27.22%; the price of imported tungsten wire was 17,2750.1 USD/ton, which was 6.40% lower than that of 2007.
Domestic market demand slows, tungsten prices are weaker
After the domestic tungsten concentrate price exceeded 100,000 yuan/ton in 2006, it has slowly declined for two consecutive years. The price of tungsten in the first three quarters has been stable, but the price of major tungsten products in the fourth quarter has dropped by more than 20%. Especially after entering October, the domestic tungsten market situation has changed suddenly. The price of tungsten has continued to fall. First, it has fallen below 80,000 yuan/ton. Compared with the highest price in 2006, it has fallen by more than 50%. In October alone, the price fell more than 30%; continued to fall below 70,000 yuan / ton in November; fell below 60,000 yuan / ton in December, tungsten concentrate prices hit the bottom line at the end of the year, some tungsten mines and tungsten smelting processing plants suffered losses and were discontinued and semi-discontinued In the state, the tungsten market is in a priceless market, and the transaction is light.
In 2008, the annual average selling price of domestic tungsten concentrate was 83,600 yuan/ton, down 15.47% from the 98,900 yuan/ton in 2007, and the average monthly price dropped by 39.96%. The annual average sales price of domestic APT was 133,300 yuan/ton. Compared with the 152,900 yuan/ton in 2007, it decreased by 14.13%, and the average monthly price dropped by 37.75%. The annual average sales price of domestic tungsten-iron was 155,400 yuan/ton, down 8.37% from the 169,600 yuan/ton in 2007. The average price dropped by 26.89%.
Analysis and Prospect of Tungsten Market in 2009
In 2009, the recovery of tungsten market demand and price recovery will continue to face challenges. The policy is more favorable, the demand is slowly recovering, confidence is gradually increasing, and the price is stabilizing and rebounding is the general trend.
Multiple policies are favorable, and demand is slowly recovering
The Third Plenary Session of the Seventeenth Central Committee of the Party and the Central Economic Work Conference comprehensively analyzed China's economic situation and regarded maintaining stable and rapid economic development as the primary task of economic work next year, and determined the work of "guaranteeing growth, expanding domestic demand, and adjusting structure." policy. We are working hard to formulate and implement a revitalization plan for key industries such as the non-ferrous metals industry, emphasizing that “the shots should be fast, the punches should be heavy, the measures must be accurate, and the work must be realisticâ€. The central government has adopted a series of measures to expand domestic demand and promote steady and rapid economic growth. It will play an important role in restoring demand, stabilizing the market, improving expectations, enhancing confidence and promoting growth. The continued rapid growth of the domestic economy will be conducive to the recovery and steady growth of tungsten demand, which is the fundamental driving force for the stable price of domestic tungsten market; a series of measures to rescue the market in the world are intensively introduced, although it may not be able to get out of the financial crisis in the short term, but it is stable. In the financial market, shortening the impact cycle of the financial crisis and restoring the growth of the global economy as soon as possible will have a positive effect and will also help restore the demand of the international tungsten market.
In 2009, the state will continue to implement planned protective mining of tungsten in industrial policies and industry supervision, formulate and implement supporting measures for tungsten industry supervision and total production control, and strictly control the total amount of tungsten mining; The integration of tungsten ore resources, the growth of comprehensive recovery of associated tungsten and low-grade tungsten, the national tungsten concentrate production is expected to increase; some of the main tungsten-producing areas are degraded deep, the grades are declining or resources tend to be depleted, tungsten Mine production will decline, and some have seen a significant decline; the investment in the tungsten industry has cooled down, which has slowed down the further expansion of total tungsten production to a certain extent, slowed the growth of tungsten market supply, and expected tungsten concentrate supply in the tungsten market. It will continue to remain basically stable.
Chunjiang plumbing "tungsten" prophet market is back to steady
In recent years, the reorganization and integration of upstream and downstream enterprises, the tungsten industry chain has been further extended and penetrated, the tungsten industry layout and product structure have been further improved, and the tungsten market operation capacity and ability to withstand risks have been enhanced, which has promoted the stable and low price of the tungsten market. Similar to the possibility of market ups and downs in 2005.
The cost price of tungsten products has been rising year by year, which is conducive to supporting the domestic tungsten market price. In recent years, whether it is a tungsten mining enterprise, a tungsten smelting processing enterprise and an export trading enterprise, the operating costs have risen sharply, and the business operation has withstood severe tests. In order to extend the service life of the mine, tungsten mining enterprises have increased their investment in environmental protection, technological transformation, deep-seed exploration and infrastructure, deep mining and average grade of ore, and tungsten mining costs continue to rise. At the same time, resource taxes and tungsten The new fiscal and taxation policies, the improvement of employee benefits and the improvement of the employment system of enterprises have all increased the administrative expenses and production costs of enterprises.
The right to speak in the international tungsten market has continued to increase. In the past three years, the international tungsten prices have remained stable overall, which is conducive to the stability of the international tungsten market price. Before 2001, the average annual export price of tungsten products was less than 8,000 US dollars / ton of metal (excluding cemented carbide, the same below), in 2006 exceeded 30,000 US dollars / ton, reaching 34,706 US dollars / ton, 2008 34,287.17 US dollars / ton of metal , down 1.31% from 2007, has been stable at more than 30,000 US dollars for three consecutive years.
Domestic tungsten market prices have been stabilizing since December 2008. After the Spring Festival, tungsten enterprises have resumed production, and market purchases have become active. In February, the mainstream price of tungsten concentrates has risen to 65,000 yuan / WO365% tons, up 9.40% from the previous month. . The price of ferro-tungsten in the international market also rose slightly, and the price of tungsten in the market stabilized and rebounded. In the long run, due to the scarcity of resources, the special properties and applications of tungsten, the strategic position of China's tungsten resources, the gradual recovery and recovery of tungsten market prices is an inevitable general trend, which is also consistent with the continuous improvement of the social exchange value of environmental resources. trend.
Summary of economic operation of tungsten industry in 2008 and prospect of tungsten market in 2009
In 2008, the global financial crisis continued to spread, the demand for tungsten market weakened, the export of tungsten products declined, and the economic benefits of the industry declined. In 2009, the global financial crisis will continue to drag down global economic growth. The supply and demand pattern of the tungsten market and the growth of the tungsten industry will continue to have an adverse impact. The recovery of tungsten market demand and price stabilization will continue to face challenges. At present, the policy is more favorable, the demand is restored, the confidence is enhanced, and the price of tungsten is stabilizing and rebounding is an inevitable trend. Tungsten City has stabilized for more than two months. After the trading was light, tungsten enterprises resumed production after the Spring Festival, and market purchases began to be active. In February, the mainstream price of tungsten concentrates rose to 65,000 yuan/ton (WO365%). The chain price increased by 9.40%, the international tungsten market price continued to be stable, the price of ferro-tungsten in Europe also rose slightly, and the tungsten market stabilized and rebounded.