Tungsten APT price climb gradually in European market
2006-01-23 13:30:42 【Print】
BEIJING (Asian Metal) 23 Jan 06 – After tungsten export licenses were released early last week, a few Chinese suppliers raised the tungsten APT export price to USD265/mtu, and prices for tungsten APT and oxide in the European market rose close to USD270/mtu, European market participants reported to Asian Metal.
A Central European trader told Asian Metal that he sold several containers of APT last Friday for of USD266-268/mtu in warehouse Rotterdam. “Before last week, the price was still at USD260-265/mtu in warehouse Rotterdam.” The trader claimed Chinese suppliers raised the offers to at least USD265/mtu CIF Rotterdam. “The price is climbing, slowly.”
“Tungsten concentrate is selling at over USD210/mtu in China, so suppliers raised their export price.” The trader believes the tungsten market will remain at this level for at least another three months before a change of direction would be observed. The trader also sold 1 container of yellow tungsten oxide for USD268/mtu in warehouse Rotterdam.
Another central European trader believes the higher price is caused by the increasing domestic consumption. “I heard Chinese domestic consumption rose by over 20% last year, and with such dramatic increase, I’m not surprised to see higher price from China.”
The trader thinks the tungsten market will keep the firm trend until the end of June when many western people are expected to start to go on their summer vacation. “With lower demand in Europe at that time, we probably will see the market sliding.” Moreover, the trader believes more tungsten produced outside China will help ease the market pressure and bring tungsten price to a more reasonable level. “USD200-220/mtu for APT would be more ideal.”
