European tungsten market weakens
2006-03-27 10:07:51 【Print】
BEIJING (Asian Metal) 27 Mar 06 – As Chinese tungsten APT price dropped in the previous week to the current USD270/mtu FOB CMP, the situation in the European market remained quiet with consumers waiting for the price to drop further.
A European trader told Asian Metal that the offers he received from Chinese suppliers are at around USD270-280/mtu FOB CMP. He had not made any purchase due to the fact that there are few buyers interested in buying the material now, and moreover, consumers are waiting for lower prices.”
Confirming that tungsten price dropped in China, the trader sold one container of Africa originated tungsten wolframite at USD210/mtu CIF CMP. “Before, we could sell at around USD220/mtu CIF CMP.” The trader revealed that he first offered the material for USD225/mtu, but the Chinese consumers counter-bid at the level around USD190/mtu. “The lowest bid I had was at around USD165/mtu, and I was happy when someone finally could accept USD210/mtu CIF CMP.
A European consumer agreed that price offer of APT from Chinese dropped to USD270/mtu FOB CMP. “Since I have enough stock of the raw material, I will not be interested in purchasing at this time.” The consumer holds that the price will drop further for he believes the concentrate stock in China is more than enough for the consumption in both the Chinese domestic and overseas markets.
