GTA lowers tungsten concentrate, APT price forecasts for April due to VAT cut

摘要

China’s Ganzhou Tungsten Association (GTA) has lowered itstungsten price forecasts for April due to the implementation of alower value-added tax (VAT) rate in the country.China’s VAT rate for the manufacturing industry was lowered to13% on Monday April 1 from the prior rate of 16% while thegovernment tries to stimulate a slowing economy.As a result, the GTA has lowered its forecast for the averagemonthly price of black tungsten concentrate 65% in China for April to94,500 yuan ($14,079) per tonne. This marks a decrease of 2,000 yuanper tonne from March’s forecast price of 96,500 yuan per tonne.