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12th Rare Earth Summit
May 27-28, 2021
Hangzhou, Zhejiang, China
11th Aluminum Raw Materials Summit
May 20-21, 2021
Hangzhou, Zhejiang, China
9th Magnesium Summit
April 15-16, 2021
Hangzhou, Zhejiang, China
13th World InBiGeGa Forum
March 25-26, 2021
Hangzhou, Zhejiang, China
7th World Antimony Forum
June 13-14, 2019
Changsha, Hunan, China
7th Refractory & Abrasive Materials Summit 2019
May 23-24, 2019
Qingdao, Shandong, China
10th Aluminum Raw Materials Summit
May 16-17, 2019
Zhengzhou, Henan, China
11th Rare Earth Summit
May 9-10, 2019
Qingdao, Shandong, China
8th Magnesium Summit
April 11-12, 2019
Zhuhai, Guangdong, China
12th World InBiGeGa Forum
March 14-15, 2019
Zhuhai, Guangdong, China
6th World Manganese & Selenium Forum
May 21-22, 2018
Hainan Sanya, China
Interview with Chen Qifeng, president of Chaozhou Xianglu Tungsten Industry Co.,Ltd
Founded in 1997, Chaozhou Xianglu Tungsten Industry Co.,Ltd, is not only a key high-technological enterprise of national Torch Plan, but also an outstanding private company for the production of Ammonium Paratungstate and Blue/Yellow Tungsten Oxide with a capacity of 5,000 tpy, and Tungsten Metal and Carbide Powder every 4,000tpy. As one to the top 13 enterprises with Tungsten product export quotas in China, each production of Tungsten for export are certified by The Ministry of Commerce of P.R.China. Its WC exporting quantity has been the No. 1 in China for many years.
Chen Qifeng: Fine-grain tungsten carbide powder sees broad market outlook
----Interview with Chen Qifeng, president of Chaozhou Xianglu Tungsten Industry Co.,Ltd
Asian Metal: President Chen, thank you for accepting our exclusive interview. Could you please introduce Chaozhou Xianglu Tungsten Industry Co., Ltd?
Chen: Chaozhou Xianglu Tungsten Industry Co., Ltd, which was founded in 1997 engages in the manufacturing of tungsten carbide powder and has an annual capacity of 4,000t with types from coarse-grain (20-40μm) to fine-grain (0.2-0.4μm). We increased the production capacity of fine-grain tungsten carbide powder last year but the supply cannot meet the need now.
Asian Metal: As the major producer of tungsten carbide powder, who are your major clients?
Chen: Our products are sold both at home and abroad. The major domestic markets are in Hunan, Sichuan and Jiangxi provinces, while the overseas consumers are Kennametel Corp, a world known cemented carbide manufacturer and TaeguTec, a subsidiary of IMC Group. The procurement of large consumers keeps stable this year.
Asian Metal: The demand for tungsten carbide powder decreased as the downstream cemented carbide market has been weak since the second half of 2011. Is your sales affected by that?
Chen: Our company is engaged in the production of tungsten carbide powder with high quality, especially the fine-grain products, which is always in short supply. Therefore, all the production lines operate all the year round with large numbers of orders.
Asian Metal: The tungsten market was weaker in H1 than that of the same period of last year as the downstream demand kept lackluster. What do you think about the market in H2?
Chen: The tungsten market will recover in H2. The demand and supply of APT are balanced despite more materials available in the spot market. The spot inventories increase as most consumers are unwilling to take procurement due to current weak trend of APT market. Most participants will take purchase when the price picks up in the future.
Asian Metal: What price behavior do you expect for tungsten concentrate in 2012?
Chen: Prices of tungsten concentrate 65%min will hover at RMB120,000-150,000/t (USD293-366/mtu)with a general stable trend.
Asian Metal: Do you mind to tell how much your company earned in 2011 and how was the technological input?
Chen: Our company earned RMB700 million of operational revenue last year and we will spend over 2% of the total revenue on technological input and development of new products.
Asian Metal: Will your company add cemented carbide production lines in the future?
Chen: We will focus on carbide tungsten powder market and start to produce cemented carbide after some time, but it is not the right time now. No concentration no specialty. We should concentrate on current work in preparation for new fields in the future. Only by achieving high specialization of products can we build century enterprise.
Asian Metal: There are many tungsten companies go public in the stock market. Does your company also have such a plan?
Chen: To go public in the stock market or not depends on the development of the company that is the first priority. Running a company is different from doing business as profits are one part, but the key point is to produce products with high quality.
Asian Metal: What do you think of it that US, Europe and Japan take China to WTO over export restriction of tungsten products and rare earths?
Chen: China has announced the export quota system before joining WTO. As far as I know, China has applied for state trading protection at that time and it will not be canceled in the future.
Asian Metal: President Chen, what is your expectation for the future tungsten market in China?
Chen: The future of tungsten market in China depends on technological innovation and products advantage. The negative factors in the market are that companies suppress the price mutually, which can not represent the real value of tungsten products. Export products should be transferred to downstream market and the government has paid much attention on downstream products as the export quotas of APT decrease each year, while that of tungsten carbide powder increase. Our company has not exported APT for a long time and will not export it in the future.
Asian Metal: Thank you for accepting our interview. Wish your company a brighter future!
Chen: Thank you!
Chen: Chaozhou Xianglu Tungsten Industry Co., Ltd, which was founded in 1997 engages in the manufacturing of tungsten carbide powder and has an annual capacity of 4,000t with types from coarse-grain (20-40μm) to fine-grain (0.2-0.4μm). We increased the production capacity of fine-grain tungsten carbide powder last year but the supply cannot meet the need now.
Asian Metal: As the major producer of tungsten carbide powder, who are your major clients?
Chen: Our products are sold both at home and abroad. The major domestic markets are in Hunan, Sichuan and Jiangxi provinces, while the overseas consumers are Kennametel Corp, a world known cemented carbide manufacturer and TaeguTec, a subsidiary of IMC Group. The procurement of large consumers keeps stable this year.
Asian Metal: The demand for tungsten carbide powder decreased as the downstream cemented carbide market has been weak since the second half of 2011. Is your sales affected by that?
Chen: Our company is engaged in the production of tungsten carbide powder with high quality, especially the fine-grain products, which is always in short supply. Therefore, all the production lines operate all the year round with large numbers of orders.
Asian Metal: The tungsten market was weaker in H1 than that of the same period of last year as the downstream demand kept lackluster. What do you think about the market in H2?
Chen: The tungsten market will recover in H2. The demand and supply of APT are balanced despite more materials available in the spot market. The spot inventories increase as most consumers are unwilling to take procurement due to current weak trend of APT market. Most participants will take purchase when the price picks up in the future.
Asian Metal: What price behavior do you expect for tungsten concentrate in 2012?
Chen: Prices of tungsten concentrate 65%min will hover at RMB120,000-150,000/t (USD293-366/mtu)with a general stable trend.
Asian Metal: Do you mind to tell how much your company earned in 2011 and how was the technological input?
Chen: Our company earned RMB700 million of operational revenue last year and we will spend over 2% of the total revenue on technological input and development of new products.
Asian Metal: Will your company add cemented carbide production lines in the future?
Chen: We will focus on carbide tungsten powder market and start to produce cemented carbide after some time, but it is not the right time now. No concentration no specialty. We should concentrate on current work in preparation for new fields in the future. Only by achieving high specialization of products can we build century enterprise.
Asian Metal: There are many tungsten companies go public in the stock market. Does your company also have such a plan?
Chen: To go public in the stock market or not depends on the development of the company that is the first priority. Running a company is different from doing business as profits are one part, but the key point is to produce products with high quality.
Asian Metal: What do you think of it that US, Europe and Japan take China to WTO over export restriction of tungsten products and rare earths?
Chen: China has announced the export quota system before joining WTO. As far as I know, China has applied for state trading protection at that time and it will not be canceled in the future.
Asian Metal: President Chen, what is your expectation for the future tungsten market in China?
Chen: The future of tungsten market in China depends on technological innovation and products advantage. The negative factors in the market are that companies suppress the price mutually, which can not represent the real value of tungsten products. Export products should be transferred to downstream market and the government has paid much attention on downstream products as the export quotas of APT decrease each year, while that of tungsten carbide powder increase. Our company has not exported APT for a long time and will not export it in the future.
Asian Metal: Thank you for accepting our interview. Wish your company a brighter future!
Chen: Thank you!