BEIJING (Asian Metal) 23 Apr 19 – South Korean ferrovanadium market remains quiet with mainstream prices hovering at USD47.0-49.0/kg V D.D.P. now, down by USD1.0/kg V from last week. Insiders think that the prices would decrease further in the coming week as most downstream consumers hesitate to place orders in bulk.
A ferrovanadium trader in South Korea claimed that they quote USD48.0/kg V D.D.P. for ferrovanadium 80%min now, down by USD1.0/kg V from last week. “We can at most accept a counteroffer of USD1.0/kg V for firm bids in the spot market. However, we have received no new orders since we last sold 2t at around USD50.0/kg V D.D.P. three weeks ago in the spot market,” said the source, who has no confidence in the market and predicts that the price would show downtrend in the coming week due to the poor demand from downstream consumers.
With a regular trading volume of 3tpm, the source expects to sell 3t in April, unchanged from March. They hold around 1t of stock in hand. Another ferrovanadium trader in South Korea noted that their offer for ferrovanadium 80%min is around USD47.0/kg V D.D.P. at the moment, down by USD1.0/kg V from last week. “As vanadium pentoxide prices keep decreasing, we see lower prices for ferrovanadium. The last deal of 1t was concluded at around USD48.0/kg V D.D.P. early last week with a regular client in the spot market,” said the source. As most consumers hold back from making purchases, the source predicts that the price would decrease by another USD1.0/kg V in the following week.
With a regular trading volume of 5tpm, the source expects to sell 5t in April, unchanged from March. They hold around 2t of stocks in hand.
www.asianmetal.com
