Concentrate prices down again on VAT cut; Chinese APT price follows lower
European APT market quiet; prices stable
Ferro-tungsten prices in Europe unchanged; material tightness continues
The tungsten concentrate price in China continued its move down last week amid weak market sentiment after a downbeat April forecast from China’s Ganzhou Tungsten Association (GTA) and the VAT rate was reduced.
China’s VAT rate for the manufacturing industry lowered to 13% on Monday April 1 from 16% as part of the government’s attempt to stimulate a slowing economy.
Meanwhile, China’s GTA lowered the domestic Chinese APT price to an average of 147,000...