APT prices in China and Europe mostly unchanged
Concentrate prices edge down on VAT cut
Ferro-tungsten market in Europe edges up amid continued prompt supply tightness
Concentrate price moves down on VAT cut
Fastmarkets’ price for black tungsten concentrates 65% in-warehouse China fell to 96,000-99,000 yuan ($14,291-14,738) per tonne on Wednesday April 3, down from the previous week’s 97,000-99,000 yuan per tonne. The price fall was attributed to the reduction of the VAT rate with effect from April 1.
China’s VAT rate for the manufacturing industry was lowered to 13% on Monday April 1 from 16% in an attempt by the government to stimulate a slowing economy.
“Some tungsten concentrate suppliers...