Ferrotungsten market softens
2006-03-17 13:31:54 【Print】
BEIJING (Asian Metal) 17 Mar 06 – Due to the small market and weak demand, ferrotungsten price dropped in the European market, and participants claimed even though offers are as high as USD35/kg in warehouse Rotterdam, they are able to get the material for cheaper prices.
Ferrotungsten is a very limited market in Europe, and parallel to other tungsten product, the price rose fast when tungsten concentrates price firms up. Due to high prices of tungsten products, many end-users are using tungsten scraps as a substitute of ferrotungsten lately, and insiders reported off-grade ferrotungsten is filling the market these days.
An official from a European trading company told Asian Metal that he sold 10 tonnes of ferrotungsten at USD34.25/kg in warehouse Rotterdam earlier this week, and the offers he received were at around USD34.50/kg for a container load. “Price is weakening.” He revealed that the offers he received last week were at around USD35-35.50/kg in warehouse Rotterdam.
According to the source, there are many off-grade ferrotungsten in the European market.
Another European trader claimed that the ferrotungsten price is now quoting at USD34.20-35/kg in warehouse Rotterdam. “If I want to buy, I can get the material at USD33.20/kg CIF for the early April delivery,” said the trader.
