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Successful tender pushes ferro-tungsten higher

May 29, 2009 - 15:56 GMT Location: London

KEYWORDS: ferro-tungsten , jethro wookey , tungsten

Ferro-tungsten rose across the range for the first time in almost four months on Friday as demand picked up slightly in a market where available material was scarce.

Ferro-tungsten basis 75% climbed to $25-26 per kg from $24-25.10 per kg previously. Business reported to MB was concluded mostly around the middle of the new range, though one trader managed to sell 15 tonnes at $26 per kg on Thursday afternoon. The catalyst for the move was a tender auction held by a German consumer for three truckloads of material, which surprised traders when all three...

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

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