European ferrotungsten market sees inactive inquiries
2023-03-24 10:27:27 [Print]
BEIJING (Asian Metal) 24 Mar 23 - Discouraged by weak demand from downstream consumers, European ferrotungsten market witnessed inactive inquiries in the past week. The current mainstream prices of European ferrotungsten 75%min slid to USD39.0-40.0/kg W in warehouse Rotterdam, down by USD0.5/kg W from early last week. As most consumers remain inactive in placing orders, insiders predict that the European ferrotungsten mainstream prices would decrease further in the coming week.
"We received no inquiry this week, while we received one inquiry last week," said a trader in Europe, who offers USD40.0/kg W in warehouse Rotterdam for ferrotungsten 75%min and could accept USD39.5/kg W for orders no less than 2t at present, while they could accept USD40.0/kg W for the same quantity when they quoted USD40.5/kg W early last week. They last sold around 2t to a regular client at around USD40.0/kg W in warehouse Rotterdam early last week. Discouraged by inactive inquiries from downstream consumers, the trader plans to lower their price by around USD0.5/kg W next week and predicts that the mainstream prices would decrease by around USD0.5/kg W in the coming week.
On basis of a regular monthly trading volume of 5t, the trader expects to sell around 5t in March, unchanged from last month. They sold nearly 42t in 2022 and almost 13t so far in 2023. They hold no stock now, unchanged from last month.
Another trader in Europe noted that they received one inquiry this week, while they received two inquiries in total last week. They quote USD39.5/kg W in warehouse Rotterdam for ferrotungsten 75%min and could accept USD39.0/kg W for orders no less than 1t at the moment, while they offered USD39.5/kg W and could accept no counteroffers early last week. "We failed to conclude deals after we last sold around 1t to a regular client at around USD39.5/kg W in warehouse Rotterdam early last week," said the trader. As most traders compete for limited orders, the trader has no confidence in the market next week and predicts that the mainstream prices would decrease by around USD0.5/kg W in the following week.
The trader, with a regular monthly trading volume of 3t, expects to sell around 3t in March, unchanged from last month. They sold nearly 34t in 2022 and almost 10t so far in 2023. They hold no stock now, unchanged from last month.
"We received no inquiry this week, while we received one inquiry last week," said a trader in Europe, who offers USD40.0/kg W in warehouse Rotterdam for ferrotungsten 75%min and could accept USD39.5/kg W for orders no less than 2t at present, while they could accept USD40.0/kg W for the same quantity when they quoted USD40.5/kg W early last week. They last sold around 2t to a regular client at around USD40.0/kg W in warehouse Rotterdam early last week. Discouraged by inactive inquiries from downstream consumers, the trader plans to lower their price by around USD0.5/kg W next week and predicts that the mainstream prices would decrease by around USD0.5/kg W in the coming week.
On basis of a regular monthly trading volume of 5t, the trader expects to sell around 5t in March, unchanged from last month. They sold nearly 42t in 2022 and almost 13t so far in 2023. They hold no stock now, unchanged from last month.
Another trader in Europe noted that they received one inquiry this week, while they received two inquiries in total last week. They quote USD39.5/kg W in warehouse Rotterdam for ferrotungsten 75%min and could accept USD39.0/kg W for orders no less than 1t at the moment, while they offered USD39.5/kg W and could accept no counteroffers early last week. "We failed to conclude deals after we last sold around 1t to a regular client at around USD39.5/kg W in warehouse Rotterdam early last week," said the trader. As most traders compete for limited orders, the trader has no confidence in the market next week and predicts that the mainstream prices would decrease by around USD0.5/kg W in the following week.
The trader, with a regular monthly trading volume of 3t, expects to sell around 3t in March, unchanged from last month. They sold nearly 34t in 2022 and almost 10t so far in 2023. They hold no stock now, unchanged from last month.
