Tungsten market: low tungsten ore exploratory inquiries increased, but the price is now holding cargo ship did not profit at all, more sellers, spot market transactions stalemate, expected in May or tungsten ore spot trading conditions difficult to have a significant breakthrough. APT and other smelters lower house inquiries increased, but low supply difficult to buy, buyers and sellers on prices continued stalemate. Ferro-tungsten market has remained relatively strong, a very small price declines, remained relatively stable.

Although tungsten end demand continues to slump, but the grocers sell mentality thick, spot market transactions scarce, ore prices temporarily stabilized stabilized, it is understood 55-60 degrees scheelite temporarily strong near 1.02 yuan / kwh. May tungsten ore market or steady consolidation-based, price volatility is not, spot transactions stalemate, and other guidance issued after June, the market outlook is more clear, tungsten business operations or increased slightly.

APT and other downstream smelters currently lower house inquiries increased, but low supply difficult to buy, buyers and sellers on prices continued stalemate. At present, many businesses tungsten ore sidelines waiting, hopeful on June tungsten market, there miner revealed now take only a small point of shipment cash wages, and mostly for old customers.


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Tungsten low exploratory inquiries increased, but the price is now holding cargo ship did not profit at all, more sellers, spot market transactions stalemate, expected in May or tungsten ore spot trading conditions difficult to have a significant breakthrough.

Macro, replacement trillion local government debt is expected to start, experts recommend private placement mainly; and Russia signed 32 cooperation worth $ 25 billion, a number of companies to benefit; the central bank open market operations and then paused.


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Clean County Sanming introduce dual German mining investment tungsten waste rock recycling project re-election, using a spiral concentrator, shaking flotation beneficiation and desulfurization equipment and other advanced technology, selected content more than 50% of tungsten concentrate. The project is to encourage and support "for the large solid waste disposal" project, plans a total investment of 500 million yuan, an annual investment of 300 million yuan, after the completion, Tungsten waste rock per day 3,000 tons, annual output will reach 500 million yuan, driven more than 300 jobs; at the same time, two German mining will complete construction of an annual output of 80 million green brick production line, to slag be reproduced, turning waste into treasure. At present, the project has completed an investment of 150 million yuan, the plant infrastructure, aqueducts, building and other construction is rapidly advancing, expected in the second quarter suffrage production line can be completed in production.


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Tungsten market: Overseas tungsten market steady, demand is deserted; continued weak domestic demand for tungsten end, the recent market weakness tungsten steady, manufacturers offer cautious, no significant improvement in market demand, continuing weakness in downstream demand, prices continued to show a turnover of tungsten slow downward trend, the market waiting to see atmosphere. Paratungstate price weakness steady, mainstream offer 127,000 yuan / ton, the actual transaction price of about 125,000 yuan / ton, the market volume is low, short-term ammonium paratungstate or continue shock consolidation, but does not rule out the possibility of slightly lower.

Overseas tungsten prices steady, demand is deserted, or short-term price volatility is not overseas tungsten; tungsten end domestic demand remained weak, tungsten transaction prices continued to show a slow downward trend.

Macro, provident fund interest rates at historic lows, over one hundred city housing fund deregulation; April inability to reduce downward pressure on the economy, the second round of local government debt replacement or planned; the Bank of England kept its benchmark interest rate unchanged at 0.5%.


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State Council executive meeting decided in April on the 28th, from May 1, 2015, the rare earths, tungsten, molybdenum resource tax amount levied by the change from ad valorem, and not to increase the corporate tax burden in accordance with the principle of reasonable certainty tax rate. Meanwhile, to further clean up and standardize the charges, the rare earth mineral resources compensation rates, tungsten, molybdenum is reduced to zero, stop expropriation price adjustment fund, ban related charges fund local governments below the provincial irregularities established. Establishment of Mineral Resource equity fund system. April 30, the Ministry of Finance State Administration of Taxation issued "reform levied ad valorem notice on the implementation of rare earths, tungsten, molybdenum resources tax" levied on Measures include notification on the applicable rate on concentrate sales on ore sales and sales conversion concentrate on Ore associated minerals tax, on tax location, other details about the tax collection matters altogether link eight areas where the most attention is the tungsten resource tax applicable tax rate is determined as 6.5%. Under the New Deal tungsten resources tax and the downstream market will go from here, it will be elaborated on below.

All along, the resource tax reform in promoting China's economic growth mode change process plays a crucial role for the market in terms of significance. For the purposes of the current round of market participants tungsten ore resource tax reform is the heart like a mirror, to the main purpose is to respond to a series of tungsten exports after the impact of the market caused by the abolition of tariffs. Tungsten is an important strategic resource, in order to maintain market stability and development, not a lot of resources out of low-priced domestic market, exports of tungsten product has been subject to high export tariff restrictions. After the WTO case against the rare earth, China had to ban exports of tungsten products. After lowering the threshold for tungsten exports, the market worried about the latter will cause the domestic mining chaotic phase clusters, since it is not possible to control from the outlet, then concentrates on domestic regulation, therefore, the resource tax reform is undoubtedly the best choice. Tax reform would not only mining, tungsten prices some impact, for downstream product market tungsten carbide, high-speed tool steel will also have an impact.

Mining areas: the last resource tax is levied from the amount levied approach, that is to say how much the amount of ore mined on how much money to pay taxes, can be said to be one size fits all model. Resulting from the amount of taxable mining companies "Xianpinaifu" Bonanza is a lot of mining, and mine was idle while poor, is not conducive to the rational use of resources. If you have been a continuation of this idea, the latter once the high-grade ore was mined finish, then later the market is facing difficulties can only lean ore mining, when the market is extremely negative. Changed from ad valorem, mined ore will be calculated and paid resources in terms of concentrate sales tax on tax source configuration more scientific and rational, mining companies effectively guide the rational use of resources, market-friendly and sustainable development of.

Tungsten product prices: In the past tungsten ore resource tax is levied according to the amount of ore mined, charged at the standard 8 yuan / ton, if the ore concentrate in proportion of 1: 400 to calculate, then produce one ton of concentrate required ore resource tax paid 3,200 yuan. In addition to resource tax companies also need to pay compensation fees (compensation amount = sales of mineral products × compensation rate × mining recovery rate coefficient), tungsten concentrate resources compensation at a rate of 2%, exploitation of recovery was 80% Press now one ton concentrate 86,000 yuan / ton price to computing, enterprise selling one ton concentrate on the need to pay 1376 yuan compensation fee. Also according to the present one ton concentrate 86,000 yuan / ton price to calculate the new resource tax standard, sell one ton tungsten concentrate resources required to pay tax for the 5590 tax, do not pay compensation fee. So, in the current market price of tungsten ore, the implementation of the new resource tax, corporate sales a ton of tungsten concentrate more than ever before need to pay 1,000 yuan. After the increase in raw material costs tungsten concentrate, APT and tungsten iron production costs will go up 1500 yuan / ton. In addition, some parts of the New Deal tax will be canceled, for the market as a whole, the rate of increase in costs will be reduced, or may be minimal.


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Tungsten market: weak demand for tungsten powder market, the spot market inquiry, orders are less, plus guided month decline, lack of confidence powder manufacturers, external offer slightly lower, post-cash deal or as low as 200 yuan / kg. Tungsten concentrate side, 65% wolframite price of 8.2-8.4 yuan / ton, 55% of wolframite price of 8-8.2 yuan / ton, compared with the average price last week fell 1,000 yuan / ton. Domestic tungsten market trend is still downward, the price fell slightly, demand is still poor.

Weak tungsten powder market demand, the spot market inquiry, orders are less, coupled with lower guidance this month, lack of confidence powder manufacturers, external offer slightly lower, post-cash deal or as low as 200 yuan / kg.

Macro level, the central bank cut interest rates by 0.25 percentage points and extended floating in space; Russia signed 32 cooperation worth $ 25 billion, a number of listed companies to benefit; domestic gasoline and diesel prices will be "three rising."


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Ministry of Finance, State Administration of Taxation recently issued a circular on rare earths, tungsten, molybdenum resource tax levied reform issues clearly defined areas of light rare earths by the applicable tax rate from the implementation of different price, Inner Mongolia 11.5%. Heavy rare earth resource tax applicable tax rate is 27%, tungsten resource tax applicable tax rate is 6.5%. Molybdenum resource tax applicable tax rate is 11%.

To further promote the clearance fee tax legislation, rationalize resources tax relations, from May 1, 2015, the rare earths, tungsten, molybdenum resource tax from the amount of taxable valorem, and not to increase corporate taxes in accordance with negative principles reasonably determine the tax rate. Meanwhile, to further clean up and standardize the charges, the rare earth mineral resources compensation rates, tungsten, molybdenum is reduced to zero, stop expropriation price adjustment fund, ban related charges fund local governments below the provincial irregularities established. About taxable Regulations, rare earths, tungsten, molybdenum resource tax levied by the change from a fixed amount levied ad valorem rates. Rare earths, tungsten, molybdenum taxable products, including ore and ore concentrate from mining to processing. Taxpayers its mined ore processed into concentrate sales, according to concentrate sales (excluding VAT) and pay resource tax applicable tax rates. Taxpayers mining and ore sales, the ore sales (excluding VAT) in terms of concentrate sales tax is calculated and paid resources.

It is understood that, with regard to the implementation of rare earths, tungsten, molybdenum resource tax reform requirements, decided to clean up standard fee fund involving rare earths, tungsten, molybdenum, requiring the region around a comprehensive clean-specification introduced in the region involving rare earths, tungsten, molybdenum fees fund the project, Where a breach of administrative fees and government funds approval regulations, unauthorized introduction of fees to fund the project will be canceled. After clean-up involving rare earths, tungsten, molybdenum fund related charges, the relevant departments to perform their normal duties requirements by the central and local governments shall be guaranteed by the general public budget funding arrangements. All localities and departments should strictly implement the provisions of the announcement to cancel or stop collecting the fee fund must not delay or refuse to perform any reason can not be disguised by other names continue to charge.


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