Xuan Gu Bao·2025-12-11 15:38Industry Overview - The price of tungsten series products in China has increased, with tungsten powder, tungsten materials, and sodium tungstate rising by 2.35%, 2.2%, and 2% respectively as of December 11 [1] - The supply of tungsten is expected to tighten due to China's implementation of total mining control, while global reserves are gradually increasing [1] - Demand for tungsten is anticipated to grow due to diverse downstream applications, potentially supporting high tungsten prices in the future [1] - Global tungsten supply is expected to remain tight over the next 3-5 years, driven by declining ore grades and stricter regulations in China, as well as slow supply increases outside Kazakhstan [1] Company Insights - Xiamen Tungsten focuses on three core businesses: tungsten-molybdenum, rare earths, and new energy materials, actively expanding its deep processing capabilities in these areas [2] - China Tungsten High-Tech primarily engages in the research, development, production, sales, and trade of hard alloys and various non-ferrous metals, including tungsten, molybdenum, tantalum, and niobium [2]