Vietnam Ferro-tungsten Prices Ease Slightly

The demand from the steel market does not recover, and the supply recovers in the European market, therefore, the ferro-tungsten prices ease slightly in Vietnam.

A major ferro-tungsten trader based in Vietnam expressed that they do not resume production now as the power supply is tight. He said that the prices for ferro-tungsten ease slightly this week, which are at around USD45-47/kg W.

The source said that they will mainly deal with the old orders when they resume production. “The ferro-tungsten prices moved up continuously in the past several weeks, and some traders were active in exporting the materials to the European market. However, the demand does not show obvious improvements, and the ferro-tungsten prices move down,” added the source, thinking that the market will be quiet in a short time.

A ferro-tungsten trader expressed that the tungsten concentrate prices move up now, and their production cost increases accordingly. But owing to the few buying activities, the ferro-tungsten prices ease slightly. The source noted that the prices for ferro-tungsten 75% decrease to USD45-46/kg W this week, but the customers are inactive in making deals.

The source noted that many overseas customers will leave market for summer holiday in July and August, and they are cautious in holding stocks in large quantities with the unclear future market. Looking ahead, he thinks that the prices will not rebound in a short time. 

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