FRANKFURT, GERMANY - Despite shrinking demand, the situation of tungsten prices and availability is still tense. Tungsten is the main constituent of hard metals, which are one of the key materials for the production of cutting edges for tools used in several operations and machining processes in the wood and furniture industry.
In October, the price of the most popular tungsten-based commercial product (ammonium paratungstate, APT) was around 450 dollars per metric ton (mtu). At mid 2010, such price was in the range of 250 dollars. The current cooling of global economy has granted a short rest to tools manufacturers, with stable prices for a few months now. “However, this positive signal should not reduce our level of attention to the difficult situation of raw material markets,” said Paul Oertli, president of Eumabois Toolgroup. “As a result of reduced export by Chinese suppliers, prices are still at critical levels despite a slight reduction of demand from many tools manufacturers,” Oertli added.
In October, the “British Geological Survey” placed tungsten at number one in the list of elements ranked by unreliability of supplies in 2011.
“In 2012, we expect a still difficult market scenario. Chinese suppliers dominating the sector will focus on tungsten as strategic metal also in the future. Other raw material sources will not help relieve tension in the short and medium term," said Dr. Andreas Bock, president of Wolfram Bergbau und Hütten AG, Austria, one of the few European suppliers of tungsten and related carbides.
For more technical information about the topics of this press release, please contact Dominik Wolfschütz, Eumabois Toolgroup Secretary Office, telephone +49 69 6603-1819, [email protected].
Source: Eumabois Toolgroup
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