Russia-Ukraine Conflict Affect the Supply of Ferro Tungsten

As the world's second largest tungsten reserve owner, Russia definitely plays an important role in the tungsten supply market. 

Russia exports a large number of ferro tungsten and ferro molybdenum to Europe. Recently, due to the continuous escalation of the conflict between Russia and Ukraine, the market has expressed concerns about whether Russia will restrict the export of ferrotungsten. With the high price of tungsten concentrate, this black swan event makes the price of ferrotungsten continue to rise.

Ferro-tungsten is an iron alloy series, which is an alloy composed of tungsten and iron. Commonly used ferro-tungsten contains 70% and 80% tungsten, which is used as an alloy additive for steelmaking.

European ferrotungsten prices rose to $43-44/kg from $42-43/kg when assessed on February 24, as European buyers worried that the implementation of further sanctions would affect their access to raw materials, resulting in a rapid rise in prices. While China's ferrotungsten export prices were flat, rising from $35.50-36.50 per kilogram at the beginning of the year to the current $39-40. At present, the trend of the situation in Russia and Ukraine is still unclear. If the conflict escalates, China's tungsten products are not limited to ferrotungsten, and the export volume will increase.

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