BEIJING (Asian Metal) 28 Feb 20 – Currently, mainstream prices for European ferrovanadium 80%min stand at USD28-29/kg V in warehouse Rotterdam, down by USD1.5/kg V from last week. Though suppliers try to increase their quotaiton, few buyers would buy at high price level due to the loose supply situation. Insiders believe that prices of European ferrovanadium would keep dropping in the coming week.
A trader from East Europe quotes their ferrovanadium 80%min at USD28.5/kg V in warehouse Rotterdam and they can accept USD28/kg V for firm bids, down by USD2/kg V from last week. “Prices in European market kept increasing until one week ago. Prices peak touched USD32/kg V then started to drop again. At first, we expect prices may increase to USD38/kg V,” said the source. He added, “Our clients refuse to buy at high price level and some of them even want to buy at no more than USD27.5/kg V. Our last deal was made this Wednesday, when we sold 20t at USD28/kg V.” Considering inquiries are rare to see now, he believes that European ferrovanadium 80%min would drop to USD27.5/kg V in the coming week.
With a regular trading volume of 40tpm for ferrovanadium, they expect to sell 40t in February, unchanged from January, holding 20t of stocks now, the same as last month.
A trader from Middle Europe noted the current price for ferrovanadium 80%min he received stands at USD29/kg V in warehouse Rotterdam and they can accept USD28.5/kg V for firm bids, down by USD2/kg V from last week. “Our last deal was made this Tuesday, when we sold 20t at USD28.5/kg V. Our regular client sent inquiry to me and their target price stayed at no more than USD28/kg V,” said the source. He added, “I learnt prices of raw material vanadium pentoxide flake drop to USD6.4/lb V2O5 in warehouse Rotterdam now, down by USD0.4/lb V2O5 from last week.” He believes that prices of European ferrovanadium 80%min would drop by USD0.5/kg V in the coming week.
With a regular trading volume of 60tpm for ferrovanadium, they sold 60t in January and expect 40t in February, holding 40t of stocks now, up by 20t from last month.
www.asianmetal.com
