BEIJING (Asian Metal) 12 May 23 – Due to the soft demand from terminal users, European ferrovanadium 80%min traders preferred to watch the market as they could easily find enough goods in spot market during the past week. Currently, the mainstream prices of European ferrovanadium 80%min stand at USD32-32.5/kg V in warehouse Rotterdam, down by USD1.5/kg V from late last week. Considering that the sufficient supply in spot market continues, insiders believe that the mainstream prices of European ferrovanadium 80%min would edge down in the coming week.
“We could hardly clear our ferrovanadium 80%min inventory as few terminal users would like to build more inventory. In order to increase our market competitiveness, we could possibly accept price no less than USD32/kg V in warehouse Rotterdam now,” said a trader in Middle Europe. They just sold 10t at USD32/kg V this Wednesday, but they refused to sell at any prices below USD33/kg V just one week ago. One of their regular clients only wanted to buy with the target price of no more than USD31.85/kg V this Thursday and they didn’t accept as they couldn’t cover their basic cost at this level. Considering that buyers could easily find enough goods in spot market and all refuse to build more inventory for the moment, they predict that the mainstream prices of European ferrovanadium 80%min would stay below USD32/kg V in the coming week.
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