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(AMM) Tungsten tags tumble for want of deals

May 04, 2009 - 17:05 GMT Location: NEW YORK

U.S. tungsten prices have declined considerably over the past month or so in a lifeless market, according to traders and buyers.

"Everyone is just trying to sell what they can but people are still using up inventories," a trader said. "It may be that inventories are running low, but we really don't know how much is out there."

The trader put current prices for ammonium paratungstate (APT) at around $160 per short ton unit (stu) but said it was next to impossible to fix a valid price with such scarce market activity.

"Everyone is struggling to stay above water," the trader said. "Hopefully, things will pick up in May. We'll see."

Market sources in late March said APT prices were holding steady at $200 to $210 per stu, although buyers had the clout to push prices...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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