BEIJING (Asian Metal) 19 Mar 20 – Currently, mainstream prices for Indian ferrovanadium 50%min stand at USD24.5-25/kg V Delivered D/P, down by USD1/kg V from last week. Inquiries from downstream consumers are rare to see and the market stays calm. Insiders believe that mainstream prices of Indian ferrovanadium would stay in a stalemate in the coming week.
A trader in India notes the current price for ferrovanadium 50%min he received stands at USD25/kg V Delivered D/P, down by USD0.5/kg V from last week. “Our last deal was made at the end of February, when we sold 20t at USD30/kg V,” said the source. He added, “We didn’t close any deals in March as no consumers would like to make purchase now.” Considering the market stays calm, he believes that mainstream prices of Indian ferrovanadium 50%min would stay weak in the coming week.
With a regular trading volume of 50tpm, they expect to sell 40t in March, down by 10t from February, holding no stocks now.
Another trader in India notes the current price for ferrovanadium 50%min he received stays at USD25.5/kg V Delivered D/P and they can sell at USD25/kg V for firm bids, down by USD0.5/kg V from last week. “Our last deal was made this Tuesday, when we sold 15t at USD25/kg V to one of our regular clients. Some buyers wanted to buy at USD24.5/kg V but we didn’t accept. Inquiries from new clients are rare to see at the moment,” said the source. He added, “No body sell and no body buy. That’s the current market situation for indian ferrovanadium market.” He believes that mainstream prices of Indian ferrovanadium 50%min would be weak in the coming week.
With a regular trading volume of 40tpm, they sold 40t in February and expect 30t in March, holding 15t of stocks now.
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