European tungsten market sees movement
2008-04-29 11:43:30 【Print】
BEIJING (Asian Metal) 29 Apr 08 – According to European market participants, there are several inquiries in the last few days, and dealers expect consumers to buy material for June delivery.
A European trader disclosed to Asian Metal that there are some consumers who came to him and have been looking for APT and YTO since last week, and he is checking the prices with Chinese suppliers at the moment. “I hope to buy from Chinese suppliers at slightly below USD250/mtu CIF Rotterdam and sell at around USD255/mtu to the customers,” the source said.
According to him, the tungsten APT market had been very quiet in the passed couple of months, and consumers are getting most of their material from long-term contracts. “It seems demand of downstream products are picking up, so the consumers are forced to come to spot market for some raw material.”
The trader foresees that tungsten market would stop to slide below tungsten concentrate wolframite price and stable in the world market at USD190-200/mtu and he heard the price is around RMB82,000/t in China. He believes APT and BTO/YTO price would keep stable if the tungsten concentrate remains at the same level.
Another trader disclosed that one of his customers would come to spot market in the end of April or beginning of May for late June delivery. “Although most of European manufactures go on holiday in summer, there still will be some production during the summer, so they will need a little material in stock.”
He disclosed that the Chinese suppliers are offering at around USD250/mtu CIF Rotterdam, and the lowest offer he received was USD248/mtu. “Chinese producers are trying to keep the price stable now.”
