Recently, the China Mining Association held a seminar on “Analysis of Supply and Demand Trends for Mineral Products in the First Half of 2022” in Beijing. Nearly 30 leading experts from relevant departments and agencies—including the Comprehensive Department, the Department of Natural Resource Development and Utilization, the Department of Geological Exploration Management, the Department of Mining Rights Management of the Ministry of Natural Resources, the Information Center of the Ministry of Natural Resources, the China Institute for Natural Resource Economics, the Development Research Center of the China Geological Survey, the China National Coal Industry Association, the China Petroleum and Chemical Industry Federation, the China Iron and Steel Association, the China Rare Earth Industry Association, the China Gold Association, the China Tungsten Industry Association, and the China Chemical Mining Association—as well as mining industry associations, attended the seminar. Representatives from 11 organizations, totaling nearly 20 people, delivered comprehensive reports on various aspects of the mining industry’s development, geological exploration, and mining sector. Relevant business departments of the Ministry provided targeted responses and statements addressing issues raised during the presentations by different industry representatives.

　　Experts attending the conference believe that the confluence of a century-long structural shift and a pandemic sweeping the globe has led to the continuous accumulation of global, systemic economic and financial risks, placing the world economy at a critical juncture of profound transformation. In the field of mineral resources, as traditional fossil fuels undergo a transition toward green industries such as new energy sources, minerals like lithium, cobalt, nickel, copper, and graphite have become investment hotspots. The new materials industry is moving toward intelligent development, and countries' ongoing increases in defense budgets will boost demand for military minerals such as rare earths, tungsten, and antimony. Meanwhile, the rapid advancement of artificial intelligence will drive demand for strategic emerging minerals including gallium, germanium, and indium. Key trends include: Affected by sporadic outbreaks of COVID-19, output in major coal-consuming sectors such as metallurgy and construction materials has experienced negative growth, with significant declines. Thanks to high coal, oil, and gas prices, raw coal, crude oil, and natural gas have all shown rapid, moderate, and robust growth; coal, oil, and gas enterprises have achieved record-high profitability. Steel supply has declined, demand remains weak, inventories have risen, prices have fallen, costs have increased, revenues have decreased, and profits have slumped. Gold prices have fluctuated and retreated, with production rebounding slightly from the previous year, while consumption has dropped sharply compared to the previous year. Production of ten nonferrous metals has remained stable, with prices initially rising and then falling, and both import and export volumes and prices have increased. The tungsten industry continues to experience recovery-driven growth, with profits continuing to rise, stable market demand, and tungsten product prices remaining at high levels; both export volume and price have grown steadily. China remains a net importer of rare earths, and the structure of its import and export products continues to maintain the favorable pattern seen over the past several years. Most chemical minerals and their products remain at historically high price levels, significantly boosting industry profitability; processing enterprises related to these products have seen substantial increases in profitability, and both supply and demand markets are thriving.

　　Secretary-General Che Changbo of the China Mining Association attended the seminar and delivered a concluding remarks. He also spoke on behalf of mining enterprises, addressing the current state of the mining industry, emerging trends, challenges faced, and proposed countermeasures. Moving forward, the China Mining Association will, in accordance with the requirements of the Ministry of Natural Resources and other relevant ministries and commissions, further collate and summarize the development status of various mining enterprises, conduct scientific assessments, accurately grasp the overall situation, and promptly report to the relevant ministries and commissions on the national supply-and-demand dynamics of mineral products as well as the concerns and priorities of mining enterprises.

　　Officials from the Secretariat of the China Mining Association and relevant departments (institutions) attended the seminar.