European Ferro-tungsten Market News

Ferro-tungsten market was very quiet yesterday, but that was largely a result of European holidays. Today nearly all offers in the market are around USD46.00/kg W in warehouse Rotterdam. It is hoping to purchase a truckload at USD45.50/kg W in warehouse Rotterdam this morning but have nothing concrete yet so the deal is still in doubt. The main problem at the moment is finding material in Europe for prompt release. People are just sitting on their stock and watching the prices shoot up.

The ferro-tunsgsten prices increase were largely driven by supply side factors and the demand from the European speciality steel market is rather stable, but that cancelled export shipments of Vietnamese origin ferro-tungsten right through May has heaped pressure on the European market.

“I have lost two containers of Vietnamese ferro-tungsten through May due to these cancelled shipments. It will leave my stocks tight right through until the middle of June. I expect prices in Europe to keep increasing in the coming weeks, and I have a feeling we may reach close to USD48.00/kg W in warehouse Rotterdam by June. There will of course be a point when Chinese origin smuggled material will be seen in the European ferro-tunsgten market again, certainly if numbers look like they are going to hit USD48.00/kg W in warehouse Rotterdam. I would expect to receive some unsolicited offers of smuggled material at that price,” a ferro-tungsten business said.

An European ferro-tungsten trader explained that mainstream sales prices firmed around USD2.00/kg W in five days, leaving numbers between USD45.50-46.50/kg W in warehouse Rotterdam as of Tuesday. The source stated that small volume (2-6 tons) deals had concluded above USD46.50/kg W d.d.p to European consumers already this week, and that offers of prompt release material out of Rotterdam were best priced at USD46.00/kg W in warehouse Rotterdam by Tuesday afternoon. He mentioned that the steep uptick in ferro-tungsten prices appears to have forced some buyers back into the market earlier than anticipated, resulting in a flood of enquiries.

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