European ferrotungsten finally sees movement
2005-12-09 13:38:07 【Print】
BEIJING (Asian Metal) 9 Dec 05 – As Christmas is approaching, European tungsten market started to get more active and deals were concluded between USD29-31/kg in warehouse Rotterdam. With concentrate price in the Chinese domestic market standing high, market participants believed the price of ferrotungsten might follow the trend.
A central European trader reported to Asian Metal that he concluded one container of the material at USD30/kg delivered to his central European customer. “There are more ferrotungsten activities in the current market as consumers are making their end-of-year purchases.”
When commenting on the tungsten concentrate price rise in Chinese domestic market, he believes accidents in the mines in China pushed the government to take more restrict measures.
Another central European trader claimed that although he had not concluded ferrotungsten deals this week, but he saw and heard more material changed hands. According to the trader, the price of ferrotungsten is being quote at USD29-30/kg in warehouse Rotterdam. “People with a huge stockpile on hand would offer at USD29/kg, because they want to close out the material before the holiday seasons.”
However, both traders agreed that the current active situation will not last long. “The Christmas is coming, and there will be no business after next week.”
