Xuan Gu Bao·2025-11-20 15:12Industry Overview - The prices of major tungsten products have significantly increased this year, with an overall rise exceeding 120% compared to the beginning of the year, and some products seeing increases over 140% [1] - The demand for tungsten has surged due to the growth in industries such as photovoltaics and automotive, while supply constraints have intensified market tensions [1] - The first batch of tungsten mining quotas for the first half of 2025 is set at 58,000 tons, a decrease of 4,000 tons or 6.45% compared to the first batch in 2024 [1] - The demand for tungsten in the renewable energy sector, particularly for photovoltaic tungsten wire, has shown remarkable growth [1] - Industry experts believe that due to tightening supply, rigid downstream demand, and various international factors, tungsten prices are likely to remain high in the near future [1] Company Insights - Zhongtung High-tech focuses on tungsten concentrate, hard alloys, and tools, and plans to acquire Yuanjing Tungsten Industry to inject high-quality mining assets [2] - The subsidiary Jinzhou Precision is a major supplier in the global PCB micro-drill market, benefiting from the development of the PCB industry [2] - Zhangyuan Tungsten Industry is engaged in the mining and selection of tungsten concentrate and the production and sales of ammonium paratungstate, tungsten oxide, tungsten powder, tungsten carbide powder, and hard alloys, while continuously promoting the integration of mining resources [2]