European ferrotungsten market suddenly rises
2008-02-15 20:23:45 【Print】
BEIJING (Asian Metal) 15 Feb 08 – As the Chinese producers stopped production because they are having problems to find enough tungsten concentrate and disruptions to power supply, the ferrotungsten price is rushed to USD38.5-39.5/kg W in warehouse Rotterdam on Thursday. Traders believe price will firm up further in the coming weeks.
A European trader sold one container ferrotungsten at USD39.30/kg W in warehouse for prompt release on Thursday, and he disclosed to Asian Metal that he bought two containers in the week, one on Monday at USD37.00/kg W, and another one on Thursday at USD37.80/kg for March delivery.
According to the trader, there were more than ten containers of ferrotungsten sold to end-users in the last ten days, and price went up suddenly on Thursday. "I was surprised to see so much material in warehouse Rotterdam to offer, and the increasing price certainly indicates the tight availability of the material," said the trader.
He expects ferrotungsten price continue to move upwards because there probably will not be any new replacement from China before the end of March.
Another European trader sold two containers of ferrotungsten the range of USD39.30-39.50/kg W in warehouse Rotterdam, and he thinks price will reach USD40.00-41.00/kg W next week.
He believes price will continue to firm in the coming several weeks due to the little availability from Chinese suppliers at the moment. "I heard many tungsten mines were closed due to the heavy snow in China, and the ferrotungsten producers are also not in production at the moment," said the source, believing that Chinese suppliers have the ability to control the price.
The third trader also sold one container Thursday at slightly higher than USD39.00/kg W in warehouse Rotterdam for prompt release, and he thinks the trading price should be at around USD40.00/kg W by now. "The Chinese largest producer told us that they have stopped production now because they couldn't find enough concentrate, as many Chinese tungsten mines are closed now."
An Eastern European trader disclosed that he offered a batch ferrotungsten in the middle of the week at USD36.50/kg W in warehouse Rotterdam, but was rejected by an end-user. However, the consumer came back to him for the material at USD36.80/kg W a few hours later, but he refused to sell at cheap price and raised the offer to USD38.50/kg W in warehouse Rotterdam.
“I am not in hurry to sell the material,” submitted the dealer, believing that price will go higher to USD40.00/kg W in the following week because supply is tight at the moment and the trend will sustain for few more weeks.
A European trader sold one container ferrotungsten at USD39.30/kg W in warehouse for prompt release on Thursday, and he disclosed to Asian Metal that he bought two containers in the week, one on Monday at USD37.00/kg W, and another one on Thursday at USD37.80/kg for March delivery.
According to the trader, there were more than ten containers of ferrotungsten sold to end-users in the last ten days, and price went up suddenly on Thursday. "I was surprised to see so much material in warehouse Rotterdam to offer, and the increasing price certainly indicates the tight availability of the material," said the trader.
He expects ferrotungsten price continue to move upwards because there probably will not be any new replacement from China before the end of March.
Another European trader sold two containers of ferrotungsten the range of USD39.30-39.50/kg W in warehouse Rotterdam, and he thinks price will reach USD40.00-41.00/kg W next week.
He believes price will continue to firm in the coming several weeks due to the little availability from Chinese suppliers at the moment. "I heard many tungsten mines were closed due to the heavy snow in China, and the ferrotungsten producers are also not in production at the moment," said the source, believing that Chinese suppliers have the ability to control the price.
The third trader also sold one container Thursday at slightly higher than USD39.00/kg W in warehouse Rotterdam for prompt release, and he thinks the trading price should be at around USD40.00/kg W by now. "The Chinese largest producer told us that they have stopped production now because they couldn't find enough concentrate, as many Chinese tungsten mines are closed now."
An Eastern European trader disclosed that he offered a batch ferrotungsten in the middle of the week at USD36.50/kg W in warehouse Rotterdam, but was rejected by an end-user. However, the consumer came back to him for the material at USD36.80/kg W a few hours later, but he refused to sell at cheap price and raised the offer to USD38.50/kg W in warehouse Rotterdam.
“I am not in hurry to sell the material,” submitted the dealer, believing that price will go higher to USD40.00/kg W in the following week because supply is tight at the moment and the trend will sustain for few more weeks.
