BEIJING (Asian Metal) 29 May 20 – Currently, mainstream prices of South Korean ferrovanadium 80%min stand at USD24.5-25/kg V in port of Busan, unchanged from last week. Most consumers only purchase according to urgent need and the market keeps quiet now. Considering inquiries stay rare, insiders believe that mainstream prices of South Korean ferrovanadium 80%min would edge down in the coming week.
A trader from South Korea quotes their ferrovanadium 80%min at USD25/kg V in port of Busan and could accept USD24.5/kg V for firm bids, unchanged from last week. “We sold 20t at USD24.5/kg V this week and we won’t accept any orders below this price now,” said the source. This Thursday, one of their regular clients wanted to buy 40t at no more than USD24/kg V, they refused this order directly. They also do trading for vanadium pentoxide flake 98%min and the current price he received stands at USD5.4/lb V2O5 in port of Busan, down by USD0.2/lb V2O5 from last week. Considering prices of raw material keep dropping, he believes that mainstream prices of South Korean ferrovanadium 80%min would stay weak in the coming week.
With a regular trading volume of 50tpm, they sold about 50t in April and expect 40t in May, holding about 20t as regular stocks, unchanged from last month.
Another trader in South Korea notes that the current price for ferrovanadium 80%min he received stands firm at USD25/kg V in port of Busan, unchanged from last week. “Our regular downstream clients all are watching the market now and none of them sent inquiries to me during the past two weeks,” said the source. According to the feedback of their major downstream client, they could at most accept USD24.5/kg V at the moment. Their regular producer in South Korea agrees to supply at this price level for firm bids. Considering inquiries stay rare, he believes that mainstream prices of ferrovanadium 80%min would stay weak at around USD24.5/kg V in the coming week.
With a regular trading volume of 60tpm in normal, they expect to sell 30t in May due to the COVID-19, down by 10t from April, holding no stocks now.
www.asianmetal.com
