GLOBAL TUNGSTEN WRAP: Concentrate price edges down on VAT cut; APT prices largely rangebound

The tungsten concentrate price moved down in China last week following the implementation of a value-added tax (VAT) cut, while ammonium paratungstate (APT) prices were mostly steady in China and Europe.

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...

Published

Ewa Manthey

Huaqing Fu

April 08, 2019

15:30 GMT

Shanghai, Edinburgh