Tungsten carbide cutting tool nowadays has represented the future development of cutting tool industry in China. During several export rebate rate adjustments this year, the export rebate rate of tungsten carbide cutting tools has been raised from 5% to 11%, which demonstrates the support from the Chinese government towards tungsten carbide cutting tool industry.

 

There are two main types of products in the cutting tool market in China currently, i.e. high-speed steel cutting tools and tungsten carbide cutting tools. High-speed steel cutting tools are not encouraged in the industry because it produces low-end products while consuming a great number of resources. However, since there are still great needs from machinery manufacturing industry, and many domestic cutting tool enterprises have not yet transformed their cutting tool manufacturing technology, the majority of cutting tools produced are still high-speed steel cutting tools. At the same, China also exports a great volume of high-speed steel cutting tools, which becomes one of the factors contributing to international trade friction. There once have been boycotts against China from Spain and some South American countries. Therefore, the Tool Branch of Chinese Machine Tool Industry Association has more than once called on the reducing of the export of high-speed steel cutting tools. China’s adjustment towards the export rebate rate of tungsten carbide cutting tools this time will be the best encouragement and support for this industry.

 

For domestic enterprises, the adjustment means much more than increasing profits. It also gives them confidence to go further in their development. With the support from the country and the confidence of the enterprises, a brighter future can surely be expected in China’s tungsten carbide cutting tool industry.

 

 

 

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