Spot export trades for Chinese ferro-tungsten pick up

Export trading activity for Chinese ferro-tungsten has picked up, with exporters allocating more cargoes to the spot market than previous years.

Sources in China told Fastmarkets that the proportion of ferro-tungsten for export on a spot basis had increased this year due to changes in the purchasing strategies of overseas consumers.
“I used to export half of my ferro-tungsten cargoes on long-term contracts and half on a spot basis. But this year, more cargoes will be sold in the spot market because the overseas consumers are buying on an as-needed basis rather than signing long-term contracts to lock in large quantity of the materials in advance,” a trader said.
A second trader told Fastmarkets that he had received a steady stream of inquiries from abroad for spot materials, although he added that these were for purchases involving small quantities.
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Published

Ruby Liu

October 16, 2020

04:11 GMT

Shanghai