BEIJING (Asian Metal) 18 Feb 20 – Currently, mainstream prices for Japanese ferrovanadium 80%min stand at USD33-34/kg V CIF Japan, up by USD3/kg V from last week. As the market supply in global spot market keeps tight, few suppliers would like to accept orders at low price level. Insiders believe that prices of Japanese ferrovanadium would keep increasing in the coming week.
A trader in Japan claimed the current price for ferrovanadium 80%min he received stands at USD34/kg V CIF Japan, up by USD3/kg V from last week. “Due to the plague in China, the global suppliers are nervous and they increased their quotation for ferrovanadium 80%min again and again during the past month. It’s hard for us to buy at low price level now,” said the source. Their last deal was made two weeks ago, when they sold 20t at USD31/kg V. He believes that prices of Japanese ferrovanadium 80%min would increase to USD35/kg V in the coming week.
With a regular trading volume of 40tpm, they sold 40t in January and expect the same volume in February, holding no inventory now, down by 20t from last month.
Another trader in Japan noted the current price for ferrovanadium 80%min he received stands at around USD34/kg V CIF Japan and they can buy at USD33/kg V for firm bids, up by USD2/kg V from early last week. “Our last deal was made last Friday, when we bought 20t at USD33/kg V. We mainly buy from European market now as Chinese suppliers cannot deliver because of the plague,” said the source. He added, “The current prices for ferrovanadium 80%min in European market stay firm at USD31/kg V in warehouse Rotterdam now.” He received three inquiries during the past week for 90t in total from their downstream consumers. Considering the supply situation in spot market stays tight, he believes that prices of Japanese ferrovanadium 80%min would be above USD35/kg V in the coming week.
With a regular trading volume of 60t, they sold 60t in January and expect 90t in February, holding 30t of stocks now, up by 20t from last month.
www.asianmetal.com
