European Ferro-tungsten Market Recovered in Late January, 2021

Details: Category: Tungsten's News; Published on Monday, 01 February 2021 18:59

Analysis of latest tungsten market from Chinatungsten Online

Exporters of ammonium paratungstate (APT) in China have strong rised mentality to raise their offers amid a strengthening domestic market, though concerns over logistics as a result of the approaching Chinese New Year is sapping their interest to trade.

Prompt availability is tight after most end users, who were out of the spot market the past year amid persistently weak demand with no material being shipped out of China, have returned to replenish stocks. Freight rates continue to soar with APT suppliers struggling to find available container space. Most foreign buyers turned to domestic market considering rising costs from China.

As for the overseas market, European ferro-tungsten market recovered in the first half of the week following the sharp downward moves of the past few weeks, with sellers starting to refuse lower bids. The market had been on a downtrend for the past two weeks with prices dropping by almost 8% amid profit taking and expectations of more shipments.

Prices of tungsten products on February 1, 2021

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