Demand from tool steel has stalled and suppliers have cleared prices significantly. The price of ferro-tungsten in Europe fell to $23-26/kg, after the price was $25.9-26.9/kg. A trader sold 48 tons of ferro-tungsten by bidding at a price of less than $23/kg, while another trader sold for $26/kg, albeit in smaller quantities.
Tool steel producers fled the market and their capacity utilization rate was only 10%. High-speed steel is also not optimistic, and tungsten iron will not be purchased in the next few weeks.
The low-priced ferro-tungsten in a factory in Vietnam also hit the market, but it is said that the factory has been closed and will not affect the market for a long time. Suppliers eager to withdraw cash accepted low prices. Traders have a hard time making a profit when demand is almost non-existent.
Tool steel producers fled the market and their capacity utilization rate was only 10%. High-speed steel is also not optimistic, and tungsten iron will not be purchased in the next few weeks.
The low-priced ferro-tungsten in a factory in Vietnam also hit the market, but it is said that the factory has been closed and will not affect the market for a long time. Suppliers eager to withdraw cash accepted low prices. Traders have a hard time making a profit when demand is almost non-existent.
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