Major smelter: Ferrotungsten concluded high

BEIJING (Asian Metal) 25 May 05 - Ferrotungsten prices continue to be concluded high, a senior official from a major South China-based ferrotungsten smelter told Asian Metal.

“Last week we concluded ferrotungsten deals at USD38.5/kg W,” the official said.Asian Metal Copyright”According to the source, the company hasn’t concluded ferrotungsten deals for almost one month, unable to reach agreements with foreign buyers.Asian Metal Copyright “We’ve already contracted all of June's output and have no available stock.Asian Metal Copyright“Last week we concluded ferrotungsten deals at USD38.Asian Metal Copyright”

The producer’s production capacity is 6,000tpy.

“We usually do our equipment maintenance in June every year,” said the source, adding that the maintenance could take as long as two months, contributing to even tighter market supply.

According to the source, current concluded tungsten concentrate prices are around RMB130,000/t.

However, a West China-based trader said, “USD38.5/kg W is impossible for us. Our buyers even refuse to accept USD35/kg W.Asian Metal Copyright Our buyers even refuse to accept USD35kg W.Asian Metal Copyright”

According to the source, the company hasn’t concluded ferrotungsten deals for almost one month, unable to reach agreements with foreign buyers.