According to preliminary statistics from the Tungsten Association, China’s tungsten industry achieved revenue of 23.38 billion yuan in the first quarter of 2023, up 0.9% year-on-year, and realized a profit of 1.88 billion yuan, up 4.8% year-on-year. This is mainly attributed to the increase in tungsten prices in the first three months of this year as well as a fair turnover in the tungsten market.
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