European Ferrotungsten market participants watch market
2005-09-27 13:46:55 【Print】
BEIJING (Asian Metal) 27 Sep 05 – After meet with Chinese suppliers last week, many traders and consumers already went back to Europe. Ferrotungsten market participants told Asian Metal that they received quotes as high as USD31/kg CIF Rotterdam, and they intend to watch the market.
An eastern European trader told Asian Metal that the price he received for ferrotungsten is around USD31/kg CIF Rotterdam for October delivery, and he decided not to buy. “It takes around five or six weeks for the material to get Rotterdam, and anything could happen in this time,” said the trader.
According to the trader, the current mainstream price had reached USD32/kg in warehouse Rotterdam, but only for prompt material. Many people believe the price will reach USD35/kg in warehouse Rotterdam in the forthcoming two or three weeks, and then will stabilize at the price for sometimes. The trader believes that the price will start to drop by the end of October. “Hard to say what’s going to happen,” said the trader.
The trader deals around 300 tons ferrotungsten and some quantity of tungsten carbides every year.
A Belgium trader said that he also received offers for ferrotungsten at USD31/kg CIF Rotterdam for October or November shipment, but he had not decided yet. “Most likely that I won’t buy,” said the trader. “I think the price is too high, and takes too long for the material to get here.”
According to the trader, Chinese suppliers insisted on high prices because the tungsten concentrate is hard to get, and the price of tungsten concentrate is already over USD190/mtu in the Chinese domestic market. The trader believes that the major Chinese suppliers are trying to manipulate the market, while they got support from governments.
The trader sells around 400-500 tons ferrotungsten and around 200 tons tungsten APT every year.
