Where use W?

Tungsten demand

1. Hard metal tool : cutting tool, bit for milling, machine tool material (approximately 70%                               of total usage)

2. Semiconductor : NAND flash, image sensor, display, etc. (New market growth)

3. Special steel : weapon material, construction, mining mechanical material

4. Tungsten oxides : for manufacturing pigments, fider dyes, catalysts, reagents

Tungsten material supply market

1. Material supply and demand instability is very high : China's monopolistic market                                                                  accounts for more than 80% of production

2. Markets where international prices are determined by Chinese government control (              simillar to rare earth markets)

Tungsten material demand market

1. IMC group : 25% (Daegu tech parent parent company)

2. SANDVIK : 25% (Swedish enterprise)

3. Total market size : 85,000 tonnes/year (W content)