BEIJING (Asian Metal) 17 Apr 19 – As most consumers hold back from making purchases, South Korean ferrovanadium 80%min market sees lower prices at around USD48.0-50.0/kg V D.D.P. now, down by USD2.0/kg V from early last week. Insiders have no confidence in the market and predict that the prices would show downtrend in the coming week.
A ferrovanadium trader in South Korea claimed that they quote USD49.0/kg V D.D.P. for ferrovanadium 80%min now, down by USD2.0/kg V from early last week and they can at most accept a counteroffer of USD1.0/kg V for firm bids in the spot market. “Most of our downstream clients are in no hurry to rebuild stocks in bulk. As a result, rare deals are concluded in the spot market,” said the source, whose last deal of 1t was concluded at around USD50.0/kg V D.D.P. with a regular client in the spot market three weeks ago. As the demand shows no signs of rebounding, the source predicts that the price would decrease further in the coming week.
With a regular trading volume of 5tpm, the source expects to sell 2t in April, down by 3t from March. They hold around 1t of stock in hand. Another ferrovanadium trader in South Korea noted that their price for ferrovanadium 80%min is around USD48.0/kg V D.D.P. at present, down by USD2.0/kg V from early last week. “The market slows down with rare deals concluded as there are fewer traders and consumers holding many inventories now. Most of our clients prefer to make purchases from hand to mouth to avoid the risk of declining prices,” said the source, who sold around 1t at USD48.0/kg V D.D.P. in the spot market on Monday. The source thinks that the price would decrease by another USD2.0/kg V in the following week due to the poor demand from downstream industry.
With a regular trading volume of 2tpm, the source expects to sell 2t in April, unchanged from March. They hold 1t of stock in hand.
www.asianmetal.com
