BEIJING (Asian Metal) 27 Sep 19 – Currently, mainstream prices for European ferrovanadium 80%min stand at USD28.8-29.8/kg V in warehouse Rotterdam D/A 30 days, down by USD1.0/kg V from last week. Consumers only make purchase for urgent need and suppliers are in hurry to reduce their stocks. Insiders believe prices of European ferrovanadium would edge down in the coming week.
A trader in East Europe claimed the current quotation for ferrovanadium 80%min he received has dropped to USD30.0/kg V in warehouse Rotterdam and can buy at USD29.5/kg V for firm bids for more than 50t, down by USD1.2/kg V from last week. “Inquiries are hard to see at the moment and we don’t dare to build stock. Our last deal was made early this week, when we bought 20t at USD29.5/kg V and we sold to our regular client at USD29.8/kg V immediately,” said the source. Considering the market stands in abundant supply, he believes prices of ferrovanadium 80%min would drop by USD0.2/kg V in the coming week.
With a regular trading volume of 50tpm for ferrovanadium, they sold 500t in 2018 and have sold 350t so far this year. They sold 40t in August and expect the same volume in September, holding no stocks now, down by 20t from last month.
A producer in East Europe noted their quotation for ferrovanadium 80%min stands at USD31.0/kg V in warehouse Rotterdam D/A 30 days and can accept USD30.0/kg V for firm bids, down by USD1.0/kg V from last week. “Prices are dropping at the moment and most of our clients are watching the market. I received an inquiry for 60t from one of our regular clients this week and they want to buy at no more than USD29.5/kg V,” said the source. He added, “Though this price level is far from our quotation, in order to reduce our stock, we would accept it. For new clients, we would insist on the current quotation.” He believes prices of European ferrovanadium would stay weak in the coming week.
With a production capacity of 4,000tpy, they produced 300t in August and expect the same volume in September, holding 150t of stocks now.
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