European ferrotungsten market remains quiet
2009-03-11 10:41:35 【Print】
BEIJING (Asian Metal) 11 Mar 09 – According to market participants, European tungsten market remains quiet in the last few days, and price is weakening a little to USD27.00/kg W in warehouse Rotterdam.
A European trader received an inquiry of 20t in the end of last week, and the consumer’s target price was USD27.00/kg W d.d.p. “Because I do not have material on hand, I passed the inquiry,” said the trader, and heard the deal was concluded at the consumer’s desired price.
He claimed that the material in European warehouses is offered in the range of USD27.00-27.50/kg W in warehouse Rotterdam, and new shipment from China is offered at close to USD28.00/kg W CIF Rotterdam, so there is no profit margin for traders. He thinks it is difficult to foresee when the market will get active again, but price is unlikely to increase in the near future due to the sluggish demand.
Another European trader received offers for warehouse release at USD27.00-28.00/kg W in warehouse from Chinese traders and new shipment is slightly below USD 27.00/kg W CIF Rotterdam, but he did not receive any inquiries of the material lately. “Steel mills are running partial productions at the moment, and they probably will not come to market before the end of March or beginning of April,” the trader remarked.
According to him, European consumers are buying hand-to-mouth. “They come to the market with inquiries of 3 or 5 tons, and they ask for very prompt delivery.” The trader disclosed that some consumers come to the market for the next day delivery which is impossible for them to achieve. “Two to three days are necessary for arranging the transportation.”
