Ferro Tungsten TUN-FERRO-LON was quoted higher at around $30 a kg from $29 a kg last week and $25 a kg the week before as consumer enquiries for the metal used to make steel for industrial drills were met with empty hands.
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European Ferro tungsten prices crept up for the week as buyers drew down inventories in Rotterdam. For a second week in a row, the Lunar New Year Holiday in China meant lack of supplies were coming out of the country.
Prices of ferro tungsten in Europe crept up for the second week running as lack of new
supplies from China reinforced a dearth of material in Rotterdam, traders said.
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It is reported that recent domestic Ferro-tungsten market remains sluggish chaotic quotations continuing and thin deals done.
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Tungsten, like all other metals has witnessed a precipitous price drop. Data coming out of China, producers of around 85% of the world’s tungsten, shows that most of the Chinese Ferro-tungsten makers have either shut down or decreased output.
It is reported that recent domestic Ferro-tungsten market remains sluggish chaotic quotations continuing and thin deals done.
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Monday, February 2, 2009