Analysis of global mining industry in 2018 and outlook

In 2018, the growth momentum of global mining industry eased and showed obvious downward trend due to problems such as the trade war between China and the U.S., the global capital market turmoil.The overall tendency of mineral commodities’ prices in the world market went up earlier in the year but then fell down; the mineral exploration expenditure in China and overseas still showed different trends, and it is more and more difficult to raise funds for mining projects.Looking ahead, the mid to long term prospects of the global mining industry is promising, though uncertainties and unstable factors will increase.The “damage chain” resulting from the Sino-US trade war will curb the demand of raw materials, and the recovery process of global mining industry will be hindered.Along with the rapid development of the electric vehicle manufacturing industry, the demand for metals such as lithium, cobalt and nickel will continue to increase, but the development of materials recycling and substitution technologies will influence the demand structure of the above mentioned metals.The steady implementation of the Belt and Road Initiative will gradually increase the demand for resources of the countries along the routes of the Belt and Road, and provide a good platform for our country to participate in the global mining industry governance.