Having been approved by the State Council, Ministry of Finance and State Administration of Taxation, the issued Notice of Raising Export Rebate on Parts of Merchandises instructs to increase export rebate on moderately on labor intensive, technological and high value-added products. New standard of export rebate implemented by China involves only one product in machining tools -- tungsten carbide cutting tool of numerical -controlling machines, of which the export rebate rate will be booted to 11%

Insiders express that cutting tool industry has been encouraging the manufacturing of tungsten carbide products for years, and the improvement of the standard of export rebate suggests that the policy has been established in the basis of expanding domestic demand. The standard will benefit the stable improvement of national economy and improve the competitiveness of enterprises. It is said that, since the making of high speed steel cutting tools will cost a lot of resources, besides, the quality and price is rather low, so cutting tool industry has been ignoring it. But now cutting tools are badly in need for Chinese industries, exporting volume is quite large.      

It is reported that the export volume of cutting tools has reached $0.8 billion and most of them are high-speed steel ones whereas tungsten carbide cutting tools only account for several million yuan. The exporting structure, at the same time, has been a factor of international trade conflict. Although countries like America and Germany have not yet respond obviously to Chinese exported cutting tools, Spain and some South American countries have taken place some boycotts.

The raise on export rebate of tungsten carbide products is expected to improve both the manufacturing and exporting of tungsten carbide cutting tools.

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Ferrotungsten market stabilized last week. In Ningbo and Hunan, the mainstream ferrotungsten price of 70 Group has cincertrated in 175,000-180,000 yuan / ton in Ningbo, Hunan so far. And the mainstream ferrotungsten price of 80 Group has cincertrated in 182,000-186,000 yuan / ton .

It is known that ferrotungsten market kept relatively calm last week and the downstream steel mills’ needs were incompetent because it was affected by the policy. Many manufacturers only produced by the orders. It is expected that ferrotungsten market mainly will keep stable in next week.

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Currently, mainstream trading prices of the medium particles of tungsten powder concentrate in 270-275 yuan / kg, tungsten carbide 269-273 yuan / kg. The transaction tends to weak and the price gap between different merchants’ is still large.

The prices of tungsten bar, tungsten rod and tungsten electrode continue keeping steady. Mainstream trading price of tungsten electrode polished rod still concentrate in 440-450 yuan / kg, steelmaking tungsten bars 290-295 yuan / kg and individual businesses report 300 yuan / kg. Mainstream prices of high purity processing and brushed tungsten remained in 350-360 yuan / kg. Most of them need to book in advance because of few spot goods resources. So the prices keep relatively stable. Expected that tungsten products prices will keep stable and tend to rise this week.

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Rotterdam ferrotungsten prices fell slightly again. According to the 13th UK(MB) quotes that the Rotterdam ferrotungsten price is 38.9-39.5 U.S. dollars / kg, and fell slightly. It has dropped 0.1 U.S. dollars / kg compared to the 8th price. The Hong Kong offer is 53-55 dollars / kg, continue unchang; APT quoted in Hong Kong is 355 - $ 360 / ton, Europe continues keeping between 319.4-342.1 U.S. dollars / ton. It is expected that international tungsten price will keep stable in next week.

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Last week, tungsten products prices remained stable. Currently, mainstream trading prices of the medium particles of tungsten powder concentrate in 270-275 yuan / kg, tungsten carbide 269-273 yuan / kg. The transaction tends to weak and the price gap between different merchants’ is still large. The prices of tungsten bar, tungsten rod and tungsten electrode continue keeping steady. Mainstream trading price of tungsten electrode polished rod still concentrate in 440-450 yuan / kg, steelmaking tungsten bars 290-295 yuan / kg and individual businesses report 300 yuan / kg. Mainstream prices of high purity processing and brushed tungsten remained in 350-360 yuan / kg. Most of them need to  book in advance because of few spot goods resources. So the prices keep relatively stable. Expected that tungsten products prices will keep stable and tend to rise this week.

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Core Tip: Domestic tungsten ore prices support difficulty, many mine operators who hold goods began to have price adjustment. It is reported that recently funds in downstream part of the enterprise are nervous and  have no help on the actual needs.

Domestic tungsten ore prices support difficulty, many mine operators who hold goods began to have price adjustment. At present, mainstream market price of 65 degrees wolframite concentrate is between 1.52-1.55 yuan / kWh. Some individual merchants’offer tends to weaker and the minimum can be 1.5 yuan / kWh. It is reported that funds in downstream part of the enterprise are nervous and  have no help on the actual needs.

Raw tungsten ore market’s intensity of support becomes gradually weaker. With the adverse transaction, high market prices tend to put pressure to downward, some businesses have become cautious in future market. Overall, the shipments will of mine operators who hold goods has been enhanced, but the terminal and transaction downstream demand is poor. Supplies are in reselling toss between traders. It is expected that tungsten ore prices will slightly float for short-term.

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Scrap tungsten prices remain stable. The mainstream of transaction prices of domestic scrap tungsten blades that does not taxs concentrated in the 171-174 yuan / kg, imported blades 180-182 yuan / kg, scrap tungsten drill 190-192 yuan / kg, scrap pure tungsten blocks 210-214 yuan / kg. Tha mainstream transaction prices of scrap tungsten grinding material wolfram content of more than 70 degrees is 1.76 yuan / kWh; 50-70 degrees 1.66 yuan / kWh; 30-50 degrees 1.5 yuan / kWh, steady. The tungsten ore prices keep steady and to weaken .The businesses’shipment enthusiasm is enhanced. The mentality of scrap tungsten businesses is low because tungsten market transactions are still in poor situation.

Currently, the offers still keep stable. It is expected that scrap tungsten market will continue remaining stable for short term.

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Core Tip: The end of market demand on tungsten products and deep processing is poor and businesses are in wait - and - see state currently.

Domestic tungsten market quotes keeps steady and tends to weak and there is alarge difference in prices of supply and demand in tungsten ore market. APT businesses are not confident and become cautious. The end of market demand on tungsten products and deep processing is poor and businesses are in wait - and - see state currently. It is expected that tungsten market  will mainly keep stable prices for short-term. In other words, fluctuation range of tungsten prices is narrow.

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Tin and tungsten will soon be excavated in Myeik through a collaboration of the Ministry of Mining and the Ngwe Kabar Myanmar Company. “The joint venture project was permitted on February 27 in accordance with the Myanmar Citizens Investment Law at the Investment Commission's 8/2013 meeting,” said a spokesperson from the commission.

The alloy ores will be excavated from an 812-acre site before being refined and produced into metals in Tanintharyi Region.“There is tin metal alongside a tungsten vein in Myeik. You can also find precious titanium there,” said Soe Thein, an experienced geologist.

The tungsten project will be of great help in helping the democratic process of  Myanmar, as it has just open its arm to the world not long before.

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Prices for ferro-tungsten, a hard metal used in tool steels and light bulbs, have fallen to a more than two-year low in Europe, with traders blaming the continent's ailing steel industry and muted manufacturing activity. At around $39-$40 per kg, prices for ferro-tungsten are down nearly 10 percent since the beginning of the year and at their lowest since November 2010.

Prized for its high strength and resistance to heat, ferro-tungsten is commonly used as a steel alloy in industrial tools and heavy machinery used for working other metals, such as moulds and cutting tools. It is also used in filaments, electrodes, wires and other electrical and electronic components.

Metals traders said supplies were abundant, inquiries for ferro-tungsten were rare and trade volumes very thin, leaving them scrambling to secure orders at ever lower prices. "There's very little appetite for it (ferro-tungsten) in Europe from the steel mills and a lot of people have a lot of material on hand," said a UK-based trader.

Traders said prices were also weakening for other steel alloys such as ferro-molybdenum and ferro-vanadium, reflecting the woes of European steel firms, which have suffered heavy losses in recent years on the back of falling steel demand.

Steel demand is likely to slide further this year in Europe before a mild rebound takes hold in 2014, though it will remain well below pre-crisis levels, steel industry body Eurofer said last month. The fall in tungsten prices also reflects the wider struggle of manufacturing activity in Europe, said Robert Baylis, managing director at consultancy firm Roskill.

"You've got to remember that quite a lot of tungsten is used for automotive-related use and the European car manufacturing industry has been on a bit of a nosedive recently," he said.

Contrasting with the optimism that has lately lifted stock markets to multi-year highs, sagging physical demand and low confidence in Europe's chances of economic recovery are pressuring tungsten prices in a downward spiral, traders said. "Normally first quarters are very good quarters. But people are not confident, the economy is not as good as people expected," said a metals trader based in Germany.

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