Tungsten Market Update (July 5, 2012)

Steel prices fell in June, according to independent steel consultancy firm MEPS. The drop in prices, caused by falling raw material costs and a flood of imports due to the weak global economy, has put downward pressure on already flat US steel prices.

Ferro-tungsten prices fell over 3 percent in Europe compared to last week following a reverse tender internet auction that knocked $2.25/kg off the metal’s price. The European economy and summer slowdown have been putting a damper on ferro-tungsten prices.

APT tungsten prices, however, have remained stable, ranging between $395 and $405/mtu, according to Metal-Pages.

The US Securities and Exchange Commission is set to meet on August 22 to publicly vote on two conflict minerals rules required by the Dodd-Frank Wall Street Reform law. One of the rules being voted on requires companies to disclose whether they use conflict tantalum, tin, gold, or tungsten from the Democratic Republic of the Congo.