Ferrotungsten drifts down in Europe
2005-06-28 10:09:40 【Print】
BEIJING (Asian Metal) 28 Jun 05 - As people leave offices for holidays, ferrotungsten market becomes very quiet in Europe. Ferrotungsten prices have kept dropping down from around USD34/kg one week ago, to current around USD31/kg, major ferrotungsten traders in Europe told Asian Metal.
"I think the workable ones [for ferrotungsten] are in a range of USD30-32/kg for spot materials in warehouses Europe," said a German trader. As the trader just came back from a weeklong holiday, he based his judgment on the offers he received.
"Where the market will go? It is really difficult to say," the trader said. However, he claimed that, as the market prices for noble alloys, such as FeV, FeMo and FeTi remain softening; it would be hard for ferrotungsten to stand better off.
The source believes that efforts made by major Chinese tungsten smelters to support the market by holding a conference with aim to limit bottom prices for tungsten products might influence the market positively, but hard to radically change the market trend.
The trader did not get offers from China for ferrotungsten recently.
"I can get the material at around USD30/kg from spot market in Europe," said a trader in UK. He claimed that Chinese still quotes high prices, in which he is not interested for the weakening market demand.
According to the source, early last week, some major consumer bought one truckload ferrotungsten at a price of around USD31.5/kg
