BEIJING (Asian Metal) 25 May 20 – Currently, mainstream prices of European ferrovanadium 80%min stand at USD24.5-25.5/kg V in warehouse Rotterdam, down by USD0.5/kg V from last week. Consumers only purchase according to urgent need and market inquiries stay rare. Insiders believe that mainstream prices of European ferrovanadium 80%min would edge down in the coming week.
“We tried to quote at USD25/kg V in warehouse of Rotterdam for our ferrovanadium 80%min but only closed a deal for 20t at USD24.5/kg V early last week,” a trader from Middle Europe said. One of their regular clients sent inquiry for another 20t to them late last week but only wanted to buy at no more than USD24/kg V. As they couldn’t guarantee their basic profit margin at this price level, they refused this order directly. Considering inquiries are rare to see, he believes that mainstream 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 about 600t in 2019 and expect the same volume this year. They expect to sell 40t in May, down by 20t from April, holding no stocks at the moment, down by 20t from last month.
“We sold 20t at USD25/kg V in warehouse Rotterdam late last week, down by USD0.5/kg V from one week ago,” a producer from East Europe said. They only supply their regular clients this month as inquiries from new clients are rare to see. He heard that other suppliers closed the deal at only USD24.5/kg V. He believes that mainstream prices of European ferrovanadium 80%min would drop to this price level in the coming week.
With a production capacity of 840tpy, they produced about 60t in April and expect the same volume in May. They only produce according to orders, holding no stocks now, unchanged from last month.
www.asianmetal.com
