Prices for ferro-niobium and ferro-tungsten moved higher today, both supported by limited availability caused by lack of inventory in Europe on ferro-niobium and wider tightness across the global tungsten complex.

Ferro-molybdenum

The Argus assessment for ferro-molybdenum dp Rotterdam was unchanged today at $48.30-48.90/kg. Sub-lot offers were heard at $49/kg but no deals were heard concluded.

Ferro-niobium

The Argus assessment for ferro-niobium moved up to $46-47/kg today on continued tighter spot availability. A sale was heard done at $46.75/kg and offers were heard higher at $46.75-47/kg.

Major European suppliers are heard to be sold out of spot material until the next quarter, which has stimulated more enquiries from buyers seeking to secure whatever material is left available. Additionally, fluctuations in the value of the euro against the dollar helped traders mitigate losses and become more motivated to sell. Ferro-niobium prices have risen by 3.5pc from the beginning of the year.

Ferro-titanium

European and UK ferro-titanium prices were unchanged at $5.45-5.70/kg Ti dp/df Rotterdam and $5.45-5.70/kg Ti ex-works UK, respectively, as spot trade completely dried up ahead of the Easter holiday. Steel mills were heard to request some additional material from long-term contracts, but their requirement did not stretch to spot tonnage.

Argus assessed 90/6/4 titanium turnings prices unchanged at $2.30-2.50/kg ddp NWE today, with demand limited by the quiet ferro-titanium environment.

Ferro-tungsten

Ferro-tungsten prices moved up to $46.50-47.50/kg duty unpaid today from $46.50-47.25/kg on 15 April, as higher deals were reported due to a general tightness of availability in Europe.

A sale of 3t was heard done at $47.50/kg this week and offers were heard between $47.25- 47.75/kg, gradually climbing in anticipation of higher demand from the defence industry going forward. Prices are now at a two-year high, driven by tighter inventories in Europe after China extended its export controls list on 4 February to include tungsten compounds.

Ferro-vanadium

European ferro-vanadium prices were unchanged at $23.60-24.50/kg duty paid Rotterdam, as buyers continued to test lower bids while sellers maintained higher offers and showed little urgency to sell. Despite concerns over future supply, most market participants are currently well-stocked, with stagnant demand keeping the market at a standstill.