Recently, Xiamen Tungsten Industry announced its performance in 2017. Its annual report shows that the company realized revenue of 14.188 billion yuan, an increase of 66.37% year on year, and realized net profit of 618 million yuan for shareholders of listed companies, an increase of 320.66% year on year, which is higher than expected.

According to the announcement of the Ministry of Finance, the Tariff and Tax Commission of the State Council has decided to suspend the duty of tariff concessions on some imports originating in the United States, which will come into effect on April 2, 2018.

On March 28, the Central People's Broadcasting Station announced that the State Council's executive meeting had decided that the VAT tax rate for manufacturing industry and other industries would be reduced from 17% to 16% on May 1. Transportation, basic telecommunications and other VAT rates will be reduced from 11% to 10%. The annual sales Standard of taxpayers will be raised from 50 and 800,000 to 5 million yuan. In addition, preferential tax deductions will be given to advanced manufacturing, R&D and other high-tech industries. It is understood that the tax reduction is only a small test, with the deepening of the policy, there will be more favorable policies.

Recently, the major manufacturers of tungsten products industry have issued price increase letters, announcing that starting in April, the price of all tungsten products such as cemented carbide and sprayed powder will be raised again.

Analysis of latest tungsten market from Chinatungsten Online

Opening this week, China tungsten prices maintained stability affected by the negative impact of weak demand, low buying appetite of purchasers and difficulty in sales for sellers. Overall, tungsten ore manufacturers are cautious to adjust their prices and under the pressure of high production cost and weak demand, smelting factories are hard to operate. Most market participants now focus on production of tungsten ores, terminal consumption for inventories and new guide prices for the second of April. 

Rare earth market quotation in China: domestic rare earth prices continue to show differences. For medium and heavy rare earths market, businesses hold positive sentiment on limited import of Myanmar ores, and prices tend to stabilize after the increase. Light rare earth prices show signs of decline due to low trading activity of downstream market and the value-added tax (VAT) cut. 

Molybdenum market quotation in China: the latest prices of ferro molybdenum, ammonium molybdate and ammonium heptamolvbdate are unchanged from the previous trading day on Tuesday April 16. Molybdenum concentrate sellers remain strong rised mentality in the expectation of tight supply, waiting for new offers from large mines in Heilongjiang. Ferro molybdenum market stabilizes under the deadlocked supply and demand. Some smelting factories would stop production to undergo repair, which may further reduce the supply.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices were in a stalemate in the week ended at Friday April as the decline in average tungsten forecast prices of Ganzhou Tungsten Association and offer levels of listed companies weakened market confidence. 

Rare earth market quotation in China: domestic rare earth prices still show differences. Under the expectation of tightening availability, manufacturers of dysprosium and terbium and other heavy rare earths are reluctant to sell at low prices; while praseodymium, neodymium and other light rare earth prices tend to decline on limited orders. On whole, the current environmental protection policy is expected to benefit the industry in the long run. 

China molybdenum prices show signs of stabilization in the week began on Monday April 15. On the one hand, limited availability of raw materials and high offers of large companies stabilize current raw material prices, offer support for the supply and cost sides and benefit downstream molybdenum product prices; on the other hand, terminal buyers are not active in trading, smelting factories have limit both in orders and sales and ferro molybdenum manufacturers also are pressed under lowered steel bidding prices.