Chinese ferrotungsten price goes up slightly
2016-03-11 08:43:09 [Print]
BEIJING (Asian Metal) 11 Mar 16 - Although Chinese ferrotungsten market sees rare deals with most consumers reducing purchasing volume and watching the market further, ferrotungsten suppliers refused to sell their materials at low price encouraged by increasing raw materials’ prices. They continued to raise their offers for ferrotungsten 75%min slightly to RMB119,000-12,2000/t (USD24.3-24.9/kg W), up by RMB1,000/t (USD0.2/mtu) from those of last week.
A producer based in North China who has an annual production capacity of 3,600 tons claimed that a few consumers purchase the materials from hand to mouth. The plant produced 150t of ferrotungsten last month. Limited by higher tungsten concentrate price, they raised their offer for ferrotungsten 75%min to RMB122,000/t (USD24.9/kg W) ex works by cash payment, up by RMB1,000/t (USD0.2/mtu) from that of last week. “We sold out 10t of our ferrotungsten 70%min at RMB116,000/t (USD23.7/kg W) by cash payment last week,” said the source, adding that they will resume production when they sell out 20t of ferrotungsten 75%min stocks.
According to him, the demand from high-speed steel market remains relatively stable as regular clients rebuild stocks from hand to mouth. However, it is hard to purchase cheap raw materials so that the plant will raise their ferrotungsten offer further to test the market.
A South China-based ferrotungsten producer with an annual production capacity of 1,800 tons offers ferrotungsten 70%min at RMB115,000/t (USD24.3/kg W) and ferrotungsten 75%min at RMB119,000/t (USD24.3/kg W) , up by RMB1,000/t (USD0.2/mtu) respectively from that of last week. “Few consumers sent inquiry in past few days, and the demand will not increase in March. But we had to raise our offers slightly as our production cost is increasing all the time,” said the source, adding that the plant produced around 80t of ferrotungsten in February and held less than 30t of stocks in hand.
The source claimed that most domestic producers remained out of production and if the demand cannot improve in near term, they will not resume production soon. He predicted that the ferrotungsten prices will remain firm supported by firm tungsten concentrate prices and tight supply in the spot market.
A producer based in North China who has an annual production capacity of 3,600 tons claimed that a few consumers purchase the materials from hand to mouth. The plant produced 150t of ferrotungsten last month. Limited by higher tungsten concentrate price, they raised their offer for ferrotungsten 75%min to RMB122,000/t (USD24.9/kg W) ex works by cash payment, up by RMB1,000/t (USD0.2/mtu) from that of last week. “We sold out 10t of our ferrotungsten 70%min at RMB116,000/t (USD23.7/kg W) by cash payment last week,” said the source, adding that they will resume production when they sell out 20t of ferrotungsten 75%min stocks.
According to him, the demand from high-speed steel market remains relatively stable as regular clients rebuild stocks from hand to mouth. However, it is hard to purchase cheap raw materials so that the plant will raise their ferrotungsten offer further to test the market.
A South China-based ferrotungsten producer with an annual production capacity of 1,800 tons offers ferrotungsten 70%min at RMB115,000/t (USD24.3/kg W) and ferrotungsten 75%min at RMB119,000/t (USD24.3/kg W) , up by RMB1,000/t (USD0.2/mtu) respectively from that of last week. “Few consumers sent inquiry in past few days, and the demand will not increase in March. But we had to raise our offers slightly as our production cost is increasing all the time,” said the source, adding that the plant produced around 80t of ferrotungsten in February and held less than 30t of stocks in hand.
The source claimed that most domestic producers remained out of production and if the demand cannot improve in near term, they will not resume production soon. He predicted that the ferrotungsten prices will remain firm supported by firm tungsten concentrate prices and tight supply in the spot market.
