Shanghai Xianglu Tungsten: It is expected that the supply and demand of the tungsten market will continue to be tight in 2025.

Xiangle Tungsten Industry stated in the performance briefing that tungsten is a rare metal and an important strategic material, widely used in various sectors of the national economy. From a supply perspective, most projects in China are expected to start production in three years, while progress on new tungsten concentrate projects worldwide is slow. It is expected that the increment of raw material supply in 2025 will not be significant, but long-term supply is showing an increasing trend. It is predicted that the tungsten market will remain tight in supply and demand in 2025, supported by the rigid growth in raw material costs, and the market is expected to maintain a relatively high operating trend.