South Korean Tungsten Market keeps Steady
According to market participants, South Korean tungsten market kept stable in the last few weeks, and tungsten products price remained unchanged.
An official from a Seoul-based manufacturer told Asian Metal that he sometimes purchases APT for researching propose, and the current offers he received are in the range of USD185-190/mtu CIF South Korean port. “Tungsten market is relatively stable worldwide, and the price of APT always varies in a narrow range,” the source commented, admitting that the APT price is hovering at lower range compared to that of last year due to economic recession.
Having many research projects going on, the manufacturer purchases different volume of tungsten products from year to year, and the official keeps following the APT price. He holds that the world economy is still in recession, and we still need to wait for a long time to see fully recovery. “Although we had seen improvement in the last several months in our country, most manufacturers are still operating at fraction of normal level.”
A Seoul-based trader told Asian Metal that the current offers of medium sized tungsten carbide powder remain at around USD26.50/kg FOB China from Chinese suppliers, the same as that of a month ago. “My last purchase of the material was two months ago, and I still have a little material on hand,” said the trader, explaining that he does not need to buy more in the next couple of weeks. His trading volume is about 20tpy, and he added: “tungsten market in South Korea is small with only few manufacturers.”
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He disclosed that his currently trading scraps, including tungsten scraps and steel scraps, and the market is holding steady. “From the second quarter this year, we have seen slow recovery of the economy, and many people are optimistic about the future market,” the trader predicts that the tungsten market will continue moving flatly in South Korea, and it will take a few more months to see obvious improvement.
COLLETED BY KAREN FROM www.chinatungsten.com
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