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Metalshub launches FeW price index
Metalshub continues to expand its price coverage of the ferroalloy markets and is pleased to inform its users and subscribers that since October 2021, a ferrotungsten price index is available for the following specifications: 75% W min, C 1% max, S 0.08% max, P 0.50% max lump >10 mm. Normalised for delivery FCA to a major European sea port and pre-payment basis. The index will be updated monthly.
is glad to continuously improve the offering for the already existing subscribers! Our current customers, who are subscribed to Metalshub's entire suite of price indices, will receive access to the new indicator without any additional charge as part of their existing subscription.
Approximately half of the tungsten is consumed for the production of hard materials – namely tungsten carbide – with the remaining major use being in alloys and steels. Less than 10% is used in other chemical compounds. The hardness and heat resistance of tungsten can contribute to useful alloys. Tungsten alloys are used in a wide range of applications, including the aerospace and automotive industries and radiation shielding. Superalloys containing tungsten are used in turbine blades and wear-resistant parts and coatings.
The EU market is highly dependent on ferrotungsten imports. According to Comtrade, EU countries have imported around 2,200 tonnes of tungsten alloys in 2020. The main suppliers were Russia (56% of total imports) and China (31%).
As for all existing Metalshub Price Indices, the ferrotungsten index is based on data from negotiations and contracts concluded on Metalshub’s digital trading platform and represent a groundbreaking change in the way price discovery is conducted in the industry today.
About the Metalshub Price Index.
The Metalshub price indices are solely based on real transactions, bids and offers from the digital Metalshub platform, which is a fundamental shift in price reporting. The information is collected automatically without any journalistic work, e.g. telephone calls to market participants. This methodology minimises the risk of price manipulation and ensures a more robust picture of real market prices.
More than 1,200 companies from the metals industry are registered on Metalshub, generating more than 1,000 bids and offers per month. In H1 2021, trading volume exceeded USD 1bil.
Written by Alex Andreev alexandr.andreev@metals-hub.com
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