Tungsten export quotas and tariff cancellations
At the end of December 2014, China’s Ministry of Commerce canceled the 2015 tungsten export quota limit, but the list of tungsten export qualification enterprises did not change much. The listed companies Minmetals, Xiamen Tungsten, and Zhangyuan Tungsten were listed. Although the international tungsten price is slightly higher than that of the domestic market and the export is somewhat profitable, the European economy is weak and smuggling, so the tungsten export is weak. On May 1, 2015, China cancelled the export tariff on tungsten products. In addition, with the approval of the State Council, China has also implemented the reform of the Tungsten resource tax and the ad valorem taxation since May 1, 2015. Tungsten and molybdenum taxable products include raw ore and concentrates processed from self-produced ore. The applicable tax rate for tungsten resource tax is 6.5%.
Problems in the tungsten industry
There are also many problems in the development of China’s tungsten industry, such as low resource utilization efficiency, unreasonable export structure, low-end products, and unreasonable domestic consumption structure. In response to these problems, industry experts have called for China’s tungsten industry to control the total amount, strengthen technological transformation and innovation, promote industrial restructuring and optimization and upgrading by promoting resource integration and corporate restructuring, attach importance to recycling and promote comprehensive and sustainable tungsten industry in China. development of.
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