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The optimization and adjustment of China's industrial structure provides a good opportunity for the development of cemented carbide industry.

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In recent years, the optimization and adjustment of my country's industrial structure has provided a good opportunity for the development of the cemented carbide industry, especially the rapid development of pillar industries such as machinery, aircraft, automobiles, electronics, and construction, which has prompted my country to become the world's largest cemented carbide producer. In the future, the world's cemented carbide will develop in the direction of energy saving, environmental protection, precision and ultra-fine, and more new types of cemented carbide will be developed and promoted. The growing demand for high-end cemented carbide materials will help promote cobalt consumption.

According to many years of practice, Chinese cobalt production enterprises have explored a wet smelting technology route that uses cobalt concentrate to directly produce cobalt chemicals, breaking the international practice that electrolytic cobalt must be used as raw material for cobalt chemical production, and the wet smelting technology has been applied on a large scale, resulting in a rapid increase in the output of cobalt salts and other cobalt compounds. At the same time, international cobalt ore suppliers have also begun to increase the market supply of cobalt intermediates for wet smelting in order to reduce costs and shorten delivery cycles. Therefore, the current market cobalt salt and other cobalt intermediate products in sufficient supply, the market competition is more intense.