BEIJING (Asian Metal) 16 May 19 – South Korean ferrovanadium 80%min market remains quiet at the moment as most consumers hold back from making purchases. Mainstream prices for ferrovanadium 80%min are in the range of USD40.0-41.5/kg V D.D.P. now, down by USD1.0/kg V from last week. Due to the soft demand from downstream buyers, insiders predict that the price would show downtrend in the coming week.
A ferrovanadium trader in South Korea claimed that their offer for ferrovanadium 80%min is around USD40.0/kg V D.D.P. at present, down by USD1.0/kg V from last week. “Many traders in South Korea still compete for limited orders to get rid of further losses. As a result, the price keeps decreasing in the spot market,” said the source, whose last deal of 1t was concluded at around USD40.0/kg V D.D.P. with a regular client in the spot market on Wednesday. The source predicts that the price would decrease by another USD1.0/kg V in the coming week as most buyers lack interest in making purchases in bulk.
With a regular trading volume of 5tpm, the source expects to sell 5t in May, the same as last month. They hold around 3t of stocks in hand.
Another ferrovanadium trader in South Korea noted that they quote USD41.0/kg V D.D.P. for ferrovanadium 80%min now, down by USD1.0/kg V from last week and can at most accept a counteroffer of USD0.5/kg V for firm bids of more than 2t in the spot market. “We have received no new orders since we last sold 1t at USD43.0/kg V D.D.P. to a regular client in the spot market three weeks ago,” said the source, who has no faith in the market. As the raw materials’ prices remain at a low level with soft demand from end users, the source thinks that the price would decrease further in the following week.
With a regular trading volume of 5tpm, the source expects to sell 5t in May, unchanged from last month. They hold around 2t of stocks in hand.
www.asianmetal.com
