Xiamen Tungsten expects to increase its net profit in 2017 by 4771.7144 million yuan, an increase of 324.60%. The company said that during the reporting period, the price of tungsten concentrates rose, and the profitability of the company’s tungsten mining companies improved; sales and profitability of hard alloy deep-processing products steadily increased, and its holding subsidiary Xiamen Jinlu Special Alloy Co., Ltd. realized a net profit of 40,027.18 million yuan, a year-on-year increase. 43.19%.
Ju Guoxian, chief analyst of Guangfa Co., Ltd. Nonferrous Metals Industry Co., Ltd. stated that with the increasingly strict environmental protection supervision, the recovery of tungsten ore or new start-up will be affected, tungsten concentrate supply will be difficult to release in the short term, and tungsten concentrate prices will continue to rise. Self-produced tungsten concentrates and high-stock listed companies will benefit.