BEIJING (Asian Metal) 18 Apr 19 – The European ferrovanadium 80%min market continues to see lower prices with some traders liquidating old stocks. Current mainstream prices for ferrovanadium 80%min are in the range of USD43.7-44.7/kg V in warehouse Rotterdam, down by USD2.0/kg V from early this week. Insiders predict that the prices would show downtrend in the coming week due to the soft demand from end users.
A European ferrovanadium trader claimed that they quote USD44.0/kg V in warehouse Rotterdam, down by USD2.0/kg V from early last week and they can at most accept a counteroffer of USD1.0/kg V for firm bids of more than 10t in the spot market. “The downstream demand is weak and the prices seem to be heading down for now,” said the source, who is discussing about one deal of 10t at around USD43.0/kg V in warehouse Rotterdam with a regular client in the spot market now. The source predicts that the price would decrease by another USD2.0/kg V in the coming week due to soft demand from downstream steel mills.
With a regular trading volume of 20tpm, the source expects to sell 20t in April, the same as last month, holding 10t of stocks in hand.
Another European ferrovanadium trader shared a similar sentiment when speaking with Asian Metal. The source quotes USD44.0/kg V in warehouse Rotterdam for ferrovanadium 80%min now, down by USD2.0/kg V from early this week. “We sold 2t of ferrovanadium 80%min at around USD45.0/kg V to a regular client in the spot market last week,” said the source, who has no faith in the market and predicts that the price would show downtrend in the following week without the support from downstream demand.
With a regular trading volume of 5tpm, the source expects to sell 5t in April, the same as last month, holding 3t of stocks in hand.
www.asianmetal.com
