FeW prices tick up; support needed from sustained buying

Ferro-tungsten continued to edge upwards in Europe on Wednesday March 25, as reports came in of increased activity over the course of the week.

Ferro-tungsten continued to edge upwards in Europe on Wednesday March 25, as reports came in of increased activity over the course of the week.

The number of deals reported below $34 per kg appeared to be on the wane, furthermore, as market participants reported sales above this level not just for small quantities but for tonnages exceeding the minimum requirement in Metal Bulletin’s specification.

“The good news is that the Chinese have started offering. There is some [debate] about the numbers and the delivery schedules and delivery schedules, but it’s not completely dead anymore,” a trader said. 

Metal Bulletin’s quotation rose to $33.60-34.75 per kg, up from $33.50-34.50 previously, and is edging nearer $35 per kg, market participants said. 

“[It’s there] for smaller quantities of less than 5 tonnes,” a second trader told Metal Bulletin.

The alloy had previously led the way in terms of price falls among the noble alloys and is now the only one to show signs of strength.

However, while the price has come off its recent lows, it is still a far cry from highs in 2014 above $47 per kg, and highs in 2013 of $50 per kg.

The price will only continue to rise, furthermore, if support emerges in the form of sustained buying in the coming weeks, sources have said.

“We need a bit more support from demand from end consumers [coming into] the market,” the second trader said.

Meanwhile, ammonium paratungstate prices drifted down, on an uptick in the number of deals reported at lower prices. 

Metal Bulletin’s in-warehouse Rotterdam quotation dropped to $250-275 per mtu, from $255-290 per mtu previously. 

Claire Hack
chack@metalbulletin.com
Twitter: @clairehack_mb

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