Due to the weak demand, American ferrovanadium 80%min suppliers chose to loosen their prices to promote sales and the market mentality maintained soft during the past two weeks. Currently, the mainstream prices of American ferrovanadium 80%min stand at USD34.5-35/kg V Ex-warehouse, down by USD1.5/kg V from two weeks ago. Considering that inquiries in spot market stay rare now, insiders believe that the mainstream prices of American ferrovanadium 80%min would drop further in the coming week.
“Inquiries in spot market stay rare for the moment, and we could hardly maintain our ferrovanadium 80%min price firm at around USD37.5/kg V Ex-warehouse. In order to guarantee our monthly sales volume, we had to loosen our prices to increase our market competitiveness,” said a trader in the South of America. They last 10t at USD37.5/kg V about 10 days ago. Their regular clients only want to buy at no more than USD35/kg V for the moment. Considering that raw material prices also moved down gradually, they believe that the mainstream prices of American ferrovanadium 80%min would drop below USD35/kg V in the coming week.
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