BEIJING (Asian Metal) 8 Jun 20 – Currently, mainstream prices of European ferrovanadium 80%min stand at USD24-24.5/kg V in warehouse Rotterdam, unchanged from last week. End consumers only purchase according to urgent need and inquiries stay rare. Considering the demand keeps calm, insiders believe that mainstream prices of European ferrovanadium would edge down in the coming week.
“We sold 20t to our regular client at USD24.5/kg V in warehouse Rotterdam early last week,” a trader in West European said. They still quote USD25/kg V at the moment and could accept USD24.5/kg V for firm bids. They received a new inquiry for 20t late last week but the buyer only wanted to buy at no more than USD24/kg V. They refused this order directly and prefer to watch the market. Considering inquiries from end consumers keep rare, he believes that mainstream prices of European ferrovanadium 80%min would drop to USD24/kg V in the coming week.
With a regular trading volume of 60tpm for ferrovanadium, they sold about 600t in 2019 and about 200t so far this year. They expect to sell 40t in June, the same as May, holding about 20t of regular stocks, unchanged from last month.
“We tried to quote our ferrovanadium 80%min at USD24.5/kg V in warehouse Rotterdam to our regular clients but none of them would like to accept,” a trader in East Europe said. Their last deal was made late last week, when they sold 10t at USD24.2/kg V. They didn’t change their bottom price during the past week. They received an inquiry for 10t from a new client late last week and the buyer wanted to buy at no more than USD24/kg V. They could accept this price level but didn’t close deal at last. Because they ask the buyer to issue the letter of credit first then ship the goods. However, the buyer only wanted to pay after the goods arrived. Considering the European market stays quiet now, he believes that mainstream prices of European ferrovanadium 80%min would stay weak at USD24/kg V in the coming week.
This company could sell about 40tpm in normal and most buyers are their regular clients. They sold nearly 500t in 2019 and about 200t so far this year. They sold about 40t in May and expect the same volume in June, holding 20t of regular clients, unchanged from last month.
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