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(AMM) Tungsten tags steady in weak market

July 02, 2009 - 20:03 GMT Location: New York

Tungsten prices have stagnated over the past two months and demand has yet to pick up, according to market sources.

Buyers and sellers said ammonium paratungstate (APT) prices are stuck at around $160 per short ton unit (stu), although the lack of deals on the spot market makes it difficult to determine if the price would go up or come down.

"No one is buying or selling, and I don't see anything happening until after the summer doldrums," a trader said. "I'm not saying prices are falling; I'm just saying tungsten prices are languishing."

The trader said he had not bought or sold any tungsten "in a long, long time" but added he was getting inquiries from manufacturers lining up business through government contracts....

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

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