European ferro-tungsten price hits three-year high on threat of Russian tax

The European ferro-tungsten market rose over the week to Thursday July 8, with offer prices increasing rapidly on reduced spot availability in Europe and the prospect of Russia imposing an export tax from August 1.

Fastmarkets assessed the price of ferro-tungsten, basis 75% W, in-whs dup Rotterdam, at $37.75-38.50 per kg on July 7, up from the previous assessment of $35.60-37.00 per kg. The market was now at its highest since July 2018.
Producers in Russia have increased their offer prices gradually since the end of June, after the duties on ferro-alloy exports from Russia were announced.

On June 25, the Russian government approved temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which will be in effect from August 1 to December 31, according to an official government decree. The duty’s base rate will be 15%, with...

Published

Cristina Belda

Ruby Liu

July 08, 2021

17:58 GMT

London