BEIJING (Asian Metal) 20 Jan 20 – Currently, mainstream prices for European ferrovanadium 80%min stand at USD23.0-24.0/kg V in warehouse Rotterdam, up by USD1.2/kg V from last week. Consumers are coming back to the market after the Christmas and the new year holiday. As inquiries increased significantly, suppliers tried to raise their quotation. Insiders believe that prices of European ferrovanadium would edge up in the coming week.
A trader in East Europe quotes their ferrovanadium 80%min at USD24/kg V in warehouse Rotterdam and they can accept USD23/kg V for firm bids, up by USD1.0/kg V from last week. “We received three inquires during the past week.We used to receive at most one inquiry per week before. Our last deal was made early last week, when we sold 20t at USD23.0/kg V,” said the source. He added, “We tried to increase our quotation accordingly and it needs sometime to follow up for our clients.” Considering more and more consumers are coming back to the market, he believes that prices of European ferrovanadium 80%min would increase to USD26/kg V in the coming week.
With a regular trading volume of 60tpm for ferrovanadium, they sold 600t in 2019, down by 120t from 2018. They sold 40t in last December and expect 60t in this January, holding 40t of stocks now, down by 40t from last month.
A trader in Middle Europe claimed their quotation for ferrovanadium 80%min at USD24/kg V in warehouse Rotterdam and they can accept USD23.8/kg V for firm bids, up by USD1.5/kg V from last week. “We bought 20t at USD22.8/kg V late last week. We must guarantee at least USD1.0/kg V for basic profit margin then we would like to accept new orders as inquiries keep active now,” said the source. He added, “The current prices for vanadium pentoxide flake 98%min he received stand at around USD5.5/lb V2O5 in warehouse Rotterdam and they can buy at no more than USD5.3/lb V2O5 for firm bids, up by USD0.1/lb V2O5 from last week.” Considering prices of raw material increase slightly, he believes that prices of European ferrovanadium 80%min would edge up by USD0.5/kg V in the coming week.
With a regular trading volume of 40tpm for ferrovanadium, they sold 500t in 2019, up by 80t from 2018. They expect to sell 50t in January, up by 20t from last December, holding 60t of stocks now, up by 30t from late last month.
www.asianmetal.com
