BEIJING (Asian Metal) 19 Aug 19 – Currently, mainstream prices for European ferrovanadium 80%min stand at USD31.0-32.0/kg V in warehouse Rotterdam D/A 30 days, down by USD0.3/kg V from last week. Though suppliers try to increase their quotation, few consumers would like to accept and the demand keeps soft. Insiders believe prices of European ferrovanadium would keep weak steady in the coming week.
A trader in West Europe quotes their ferrovanadium 80%min at USD31.7/kg V in warehouse Rotterdam D/A 30 days but can only close deal at USD31.0/kg V, down by RMB0.5/kg from one week ago. “We tried to increase our quotation but failed to close deals at high price level. Most consumers are out of market now and inquiries are hard to see,” said the source. Their last deal was made two weeks ago, when they sold 10t at USD31.5/kg V. He believes prices of European ferrovanadium 80%min would keep weak steady in the coming week.
With a regular trading volume of 30tpm for ferrovanadium, they expect to sell 20t in August, unchanged from July, holding 10t of stokcs now.
A consumer in West Europe claimed the current quotation for ferrovanadium 80%min he received keeps around at USD31.7/kg V in warehouse Rotterdam D/A 30 days, down by USD0.3/kg V from one week ago. “We have no plan to purchase ferrovanadium during August because we are consuming the history inventory now. According to the promise from our regular supplier, we can absolutely close deal at no more than USD31.5/kg V,” said the source. Their last deal was made late last month, when they bought 40t at USD31.0/kg Mo. He believes prices of European ferrovanadium 80%min would keep around at USD31.5/kg V in the coming week.
With an annual consumption capacity of 600t for ferrovanadium, they consumed 40t in July and plan to consume 30t in August, holding 20t for inventory at the moment.
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