Participants seeking opportunities in ITIA conference
2005-09-15 11:02:08 【Print】
BEIJING (Asian Metal) 15 Sep 05 – The International Tungsten Industry Association conference will be held in Changsha, China, starting this weekend. Many major market participants already flied to China and seek business opportunities there.
An Eastern European trader already arrived in China, and he told Asian Metal that he is looking forward to meeting the Chinese suppliers. “Hopefully, I can establish long-term relationships with the suppliers, and bargain with them. I’m also hoping to meet some potential buyers, and seeking for business co-operation opportunities with them.”
The trader sold all his ferrotungsten stock, 40 tons, at the price of USD27/kg in warehouse Rotterdam two weeks ago. “The market of ferrotungsten is getting stronger, especially for prompt material. I need to get ready for it.” He trades 500-600 t ferrotungsten each year and also tungsten metals from time to time.
A UK trader told Asian Metal that he will be in China very soon. “I heard the prices of tungsten products are very high in China, and I believe Chinese people intentionally raised prices for us to negotiate and compromise”, said the trader. “I expect to meet many market participants the next week, and establish some relationships for future business.”
According to the trader, the price of tungsten concentrate in European market is USD140-145/mtu, and the price in China already reached USD180/mtu. The trader believes new prices will be settled after the conference, “It is just the matter of how much of the compromise,” said the trader. He deals tungsten products in various forms from concentrate to metal.
