BEIJING (Asian Metal) 9 Dec 19 – Currently, mainstream prices for European ferrovanadium 80%min stand at USD22.5-23.5/kg V in warehouse Rotterdam, up by USD0.2/kg V from last week. Suppliers try to increase but no buyers would like to make purchase. The market stays in a stalemate. Considering the demand keeps soft, insiders believe prices of European ferrovanadium would stay weak in the coming week.
A trader in West Europe claimed the lowest quotation for ferrovanadium 80%min he received stand at USD23.0/kg V in warehouse Rotterdam, up by USD0.2/kg V from last week. “Our suppliers were trying to increase their quotation during the past week and some of them even have increased to USD23.5/kg V now. However, we didn’t receive any inquiries from our downstream clients,” said the source. Their last deal was made two weeks ago, when they bought 40t at USD22.0/kg V. Considering few of end consumers would like to make purchase at the moment, he believes prices of European ferrovanadium would keep weak in the coming week.
With a regular trading volume of 40tpm for ferrovanadium, they sold 460t in 2018 and have sold 450t so far this year. They sold 40t in November and expect the same volume in December, holding 40t of stocks now, unchanged from last month.
Another trader in West Europe noted the current price for ferrovanadium 80%min he received stays at USD23.0/kg V in warehouse Rotterdam and can buy at USD22.5/kg V for firm bids, up by USD0.1/kg V from last week. “The current market for European market stays quiet now. No suppliers, no buyers,” said the source. He added, “I received an inquiry for 20t of ferrovanadium 80%min last Friday. However, the buyer only wanted to buy at no more than USD22.0/kg V. For this price level, we can get little profit. So we didn’t accept.” Their last deal was made three weeks ago, when they bought 20t at USD21.5/kg V. He believes prices of European ferrovanadium 80%min would keep weak at USD22.5/kg V in the coming week.
With a regular trading volume of 60tpm, they sold 700t in 2018 and have sold 600t so far this year. They expect to sell 60t in December, unchanged from November. They have 40t in hands now, up by 20t from last month.
www.asianmetal.com
