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.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...