BEIJING (Asian Metal) 31 Oct 19 – Currently, mainstream prices for Indian ferrovanadium 50%min keep at USD24.5-25.0/kg V D.D.P., down by USD2.0/kg V from last week. Consumers only make purchase according to urgent need and the demand keeps soft. Insiders believe prices of Indian ferrovanadium would stay weak in the coming week.
A trader in India quotes their bottom price for ferrovanadium 50%min at USD25.0/kg V D.D.P. at the moment, down by USD1.5/kg from last week. “We didn’t close any deals during the past week. I received an inquiry this Wednesday for 10t from one of our regular clients but the buyer only wanted to buy at no more than USD24.5/kg V,” said the source. They didn’t accept this order as this price level is far from their expection. Their last deal was made two weeks ago, when they sold 40t at USD27.0/kg V. Considering inquiries are rare to see, he believes prices of Indian ferrovanadium 50%min would stay weak in the coming week.
With a regular trading volume of 60tpm, they sold 700t in 2018 and have sold 550t this year. They expect to sell 40t in October, down by 20t from September, holding 30t of stocks now, unchanged from late last month.
Another trader in India claimed their ferrovanadium 50%min at USD25.0/kg V D.D.P. and can accept USD24.5/kg V for firm bids, down by USD2.0/kg V from last week. “I received an inquiry from one of our regular clients this week that they need to buy 20t at no more than USD24.5/kg V. In order to reduce our inventory, we accept this order,” said the source. He added, “Our clients only make purchase according to urgent need and new inquiries are hard to see now.” He believes prices of ferrovanadium would keep soft in the coming week.
With a regular trading volume of 40tpm, they sold 450t in 2018 and have sold 350t this year. They sold 40t in September and expect the same volume in October.They have 20t of regular stocks, unchanged from September.
www.asianmetal.com
