Following a one-month consultation, Fastmarkets has decided to relaunch its ferro-tungsten, China export min 75% $ per kg W, fob China price assessment after discontinuing it in March 2019 due to limited spot liquidity in the market.
But market participants have reported a resurgence in spot activity in the ferro-tungsten export market since the outbreak of the Covid-19 pandemic. Chinese exporters are choosing to allocate more cargoes to the spot market rather than long-term contracts because foreign buyers, particularly those from Japan and South Korea, have shown greater urgency in securing spot material.
Thus the relaunch of the price assessment will meet market participants’ needs for greater coverage of the market under these new conditions.
The specifications for this price assessment are as follows:
MB-FEU-0003 Ferro-tungsten basis 75% W fob China
Quality: Material produced from tungsten ore and concentrate; W: 75.00% min. C: 0.40% max. S: 0.08% max. Mn: 0.50% max. As: 0.10% max. Sn: 0.08% max. P: 0.05% max. Si: 0.70% max. Cu: 0.15% max. Sb: 0.05% max.
Quantity: 5 tonnes
Location: Fob China main port
Unit: USD per kg W
Form: Lump
Payment terms: Cash, other terms normalized
Publication: Weekly. Wednesday 2-3pm London
To provide feedback on this proposal, or if you would like to provide price information by becoming a data submitter, please contact Ruby Liu by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Ruby Liu re: China ferro-tungsten fob China price.’
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.