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《Contemporary Economic Management》 2018-02
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Empirical Analysis of the Impact of Price Cycle on the International Pricing Power of Rare Metals:Taking Tungsten as an Example

Liang Shanshan;Yang Danhui;School of International Trade,Shanxi University of Finance and Economics;Graduate School of Chinese Academy of Social Sciences;Institute of Industrial Economics of Chinese Academy of Social Sciences;  
Rare metals have become the key raw materials for strategic emerging industries due to their special functions and uses.Although rare metals such as tungsten and rare earth are abundant in China,China has not been able to master the international pricing power of these advantageous metal minerals for a long time.The price cycle is one of the main factors that influence the international pricing power,and the uncertainty brought by its fluctuation is transmitted to the downstream enterprises through the industrial chain.In this paper,tungsten,a typical rare metal,is decomposed according to time series,and periodic components are obtained by H-P filtering method.It is found that the linkage between China's tungsten APT price and the APT price of the European free market has increased in recent years.On this basis,through the empirical analysis of VAR,it is concluded that the export price trend of China's tungsten concentrate will affect the price trend of the European free market.This shows that in the international trade of tungsten products,China has gradually possessed a certain pricing power.To this end,it still calls for China to improve the price monitoring and warning mechanisms as well as establishing the information sharing platform of rare metals so as to stabilize the cyclical fluctuations of price effect.At the same time,efforts should be made to increase the input of resources in the upstream of the industrial chain and to invest in the downstream high-end applications,so as to speed up the transformation from resource advantages to market forces and commodity pricing advantages.
【Fund】: 国家社会科学基金重大项目《稀有矿产资源开发利用的国家战略研究——基于工业化中后期产业转型升级的视角》(15ZDA051);国家社会科学基金重大项目《金属矿产资源国际市场价格操纵问题与我国定价权研究》(13&ZD169);; 山西财经大学青年科研基金项目《煤炭资源型地区产业与新型城镇化融合发展研究》(Z06007)
【CateGory Index】: F416.32;F764.2
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