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Following various conversations with market participants, Metal Bulletin is considering reducing the minimum tonnage for the ferro-tungsten specification used for its European price quotation to 10 tonnes.
Participants have said they believe this would allow more business to be taken into account, as fewer full-truck sales are concluded in the spot market as it stands, and the majority of sales are for 10 tonnes or below.
The minimum tonnage currently stands at 18 tonnes, with a volume tolerance of +/- 5%, which some participants have said excludes too many deals from consideration.
Metal Bulletin is now inviting feedback on this proposal and plans to make a decision by the beginning of 2015.
No other changes to this quotation are planned and this will remain the case unless a specific request is made, at which point a further notice and invitation to provide feedback would be published.
Please send comments on the proposed reduction in the minimum tonnage to Claire Hack at the email address below by December 31.
Claire Hack chack@metalbulletin.com Twitter: @clairehack_mb