European ferrotungsten market sees prices jump
2015-12-24 08:00:18 [Print]
LONDON (Asian Metal) 24 Dec 15 - Prices for European ferrotungsten 75%min have taken an uptick over the past couple of days; reversing a trend that has seen the market for the noble ferroalloy descend throughout the year. This turnaround has been a result of depleted stockpiles in Europe and slow purchasing from suppliers over the past few months combining with a sudden interest in material from consumers. Prices now range between USD25.00-26.00/kg W in warehouse Rotterdam, an increase of USD3.20/kg in comparison to the previous range of USD21.80-22.80/kg W in warehouse Rotterdam. Unless more material is brought into Europe prices are likely to continue upwards in the new year.
A trader told Asian Metal that they had observed a sale of 25 tonnes of USD27.20/kg W DDP Central Europe in the past couple of days, a sale that was a dramatic increase over their previous sales, having sold five tonnes of material for USD22.00/kg W in warehouse Rotterdam the previous week. “There will still be a small amount of material in Europe that was bought at a lower price, and should consumers not make a large volume of purchases in January this could really slow down any price increase”, said the source. The Central European trader was currently holding no material in their stockpile and explained that they had managed to conclude 20 tonnes of ferrotungsten business in the past month, paling in comparison to their typical 100 tonnes per month.
“Traders’ offering prices have taken a huge jump in the past week; consumers are likely to be willing to pay these prices as well, subsistence purchasing will make prices increase suddenly, as we have seen this week”, said the source. The trader had been able to sell 5 tonnes of material in the past few days for USD26.00/kg W DDP Europe, having sold a similar volume earlier in the month for USD21.50/kg W in warehouse Rotterdam. The Western European trader had been able to sell 10 tonnes of material in total this month, and would normally expect to sell 30 tonnes of material. The trader now had less than 5 tonnes of material on stock.
A trader told Asian Metal that they had observed a sale of 25 tonnes of USD27.20/kg W DDP Central Europe in the past couple of days, a sale that was a dramatic increase over their previous sales, having sold five tonnes of material for USD22.00/kg W in warehouse Rotterdam the previous week. “There will still be a small amount of material in Europe that was bought at a lower price, and should consumers not make a large volume of purchases in January this could really slow down any price increase”, said the source. The Central European trader was currently holding no material in their stockpile and explained that they had managed to conclude 20 tonnes of ferrotungsten business in the past month, paling in comparison to their typical 100 tonnes per month.
“Traders’ offering prices have taken a huge jump in the past week; consumers are likely to be willing to pay these prices as well, subsistence purchasing will make prices increase suddenly, as we have seen this week”, said the source. The trader had been able to sell 5 tonnes of material in the past few days for USD26.00/kg W DDP Europe, having sold a similar volume earlier in the month for USD21.50/kg W in warehouse Rotterdam. The Western European trader had been able to sell 10 tonnes of material in total this month, and would normally expect to sell 30 tonnes of material. The trader now had less than 5 tonnes of material on stock.
