European ferrotungsten market holding
2011-12-20 15:56:32 [Print]
BEIJING (Asian Metal) 20 Dec 11 – With mainstream prices table on either side of USD47.00/kg W d.p. in warehouse Rotterdam for immediate release to customer, ferrotungsten market appears to be the only alloys that is fairly predictable as not likely to drift downwards for the rest of the year, according to participants.
Monday, a European dealer claimed to have sold material at USD47.30/kg W and commented on another deal concluded to a German end-user in the past week around similar number. “I think the market is holding firming although not much deals are being concluded because there is no more delivery this year,” remarked the source.
Another dealer described the market as steady, arguing there are end-user enquiries still being received, which is an indication demand is not lagging supply despite concluded prices having dropped from over USD53.00/kg W in the third quarter. “There is no low numbers in the market,” said the source alluding to aggressive quotations usually characterized to year-end sales from dealers that need cash.
By contrast, the APT market is relatively quiet with no end-user sales and few deals reported in the past week were mainly confined to among traders taking new positions in anticipation of improved demand early next year as sentiment remains positive price could rise to USD500/mtu from the current level around USD440/mtu.
A European dealer claimed to have received an unsolicited offer lately at USD430/mtu CIF Rotterdam but for lack of end-user enquiries, the source declined to enter into negotiations on the material and argued further that European end-users are becoming more less dependent on China for APT because of increasing usage of scraps and recycling, just as more material is being supplied from the US.
Monday, a European dealer claimed to have sold material at USD47.30/kg W and commented on another deal concluded to a German end-user in the past week around similar number. “I think the market is holding firming although not much deals are being concluded because there is no more delivery this year,” remarked the source.
Another dealer described the market as steady, arguing there are end-user enquiries still being received, which is an indication demand is not lagging supply despite concluded prices having dropped from over USD53.00/kg W in the third quarter. “There is no low numbers in the market,” said the source alluding to aggressive quotations usually characterized to year-end sales from dealers that need cash.
By contrast, the APT market is relatively quiet with no end-user sales and few deals reported in the past week were mainly confined to among traders taking new positions in anticipation of improved demand early next year as sentiment remains positive price could rise to USD500/mtu from the current level around USD440/mtu.
A European dealer claimed to have received an unsolicited offer lately at USD430/mtu CIF Rotterdam but for lack of end-user enquiries, the source declined to enter into negotiations on the material and argued further that European end-users are becoming more less dependent on China for APT because of increasing usage of scraps and recycling, just as more material is being supplied from the US.
