Tungsten carbide export market inactive
2008-12-31 09:31:50 【Print】
BEIJING (Asian Metal) 31 Dec 08 – With tungsten demand weakening daily under the global economic crisis, tungsten carbide export market hardly sees deals when participants leave the market for Christmas holiday and New Year holiday.
An official from a major tungsten carbide supplier in South China, with an annual output of tungsten carbide and tungsten powder of 3,000t, revealed that the export market is quiet, with no deals concluded in recent two weeks.
“I learnt that cemented carbide output in Japan and in European countries have reduced by more than half, and consumers postpone purchasing again and again due to weakening demand,” said the source. “We have almost finished all the deliveries of previous long-term contracts, and no buyer is eager to sign contract for next year’s delivery.
The source insists on offers of medium-granular tungsten carbide at USD26.0/kg FOB CMP this week, though no buyer sent inquiries to them. “Foreign buyers are enjoying the Christmas holiday and New Year holiday, with few buyers in the market,” said the source, who thinks tungsten carbide market may remain quiet in the coming two weeks before overseas participants return to the market.
An official from another tungsten carbide smelter in South China, with an annual output of 2,000t, confirmed the quiet market. “We have not received any inquiries from overseas market for more than two weeks,” said the source, who also thinks prices of medium-granular tungsten carbide should be around USD26.0/kg FOB CMP this week, the same as those of last week.
With demand from cemented carbide weakening because of slow automobile industry, the source is also pessimistic towards the market in the first half of next year.
