Due to the weak demand from terminal users, European ferrovanadium 80%min market kept quiet over the past week and the market prices stayed in a stagnant. Currently, the mainstream prices of European ferrovanadium 80%min stand at USD32-32.5/kg V in warehouse Rotterdam, unchanged from late last week. Considering that inquiries in spot market stay rare now, insiders believe that the mainstream prices of European ferrovanadium 80%min would maintain soft in the coming week.
“No buyers would like to build more ferrovanadium 80%min inventory and we could hardly increase our monthly sales volume. For firm bids, we could possibly accept prices no less than USD32/kg V in warehouse Rotterdam just in order to guarantee our basic profit,” said a trader in West Europe. They last sold 10t at this price about one week ago. No any buyers sent inquiries to them this week. In view of the quiet market, they predict that the mainstream prices of European ferrovanadium 80%min would keep weak in the coming week.
With a regular trading volume of 40tpm, they sold about 480t in 2022 and about 150t in the first four months of 2023. They expect to sell about 40t this month, almost the same as last month, holding around 10t of regular stocks for the moment, unchanged MoM.
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