www.ferroalloynet.com: This week European ferrovanadium market price almost hits USD 33/kgV the lowest price since last three years. And Chinese ferro-vanadium export price drops more than 18% amid weakening domestic market as well. With this dramatically dropping price, many companies take different view.
One European ferrovanadium trader mentioned that, the price dropping is still running as the demands in Europe is weak and ferrovanadium is also oversupplied at present. He one hundred percent believed that this price may still keep running downward till it break the lowest price three years ago.
Another expert from Europe also mentioned that it is hard to believe this price is bottom according the current situation. Now the EU price for ferrovanadium is 35 USD and that for ferroniobium USD45. According to him, the strong sentiment usually pushes the market to the bottom.
However, another Australia vanadium companies mentioned that the market price may stop falling at end of this month and will stay stable next month. According to him, the price still depends on the enforcement of steel standards but it will be health if the EU price for V2O5 stays at USD 8-10/lb. The current EU price for V2O5 is USD 7.2-7.5/lb.
However, FerroAlloyNet also forecasts that the price for vanadium is almost reaching the bottom it will soon bottom out in these two and three weeks. Currently the three vanadium giants in China are also active to undersell their stockpiles and many traders also are positive to send inquiry to store some lower stocks.
www.ferroalloynet.com
