European ferrovanadium prices rise
2023-03-10 08:30:44 [Print]
BEIJING (Asian Metal) 10 Mar 23 - With limited Russian resources in spot market due to the sanctions, European ferrovanadium market saw tight supply and growing market mentality during the past week. Currently, the mainstream prices of European ferrovanadium 80%min stand at USD41.0-41.5/kg V in warehouse Rotterdam, up by USD0.5/kg V from late last week. Though the demand stays steady, considering that the positive market mentality continues, insiders expect that the mainstream prices of European ferrovanadium 80%min would stay firm in the following week.
"We could see little Russian resources in spot market and no suppliers would like to sell their ferrovanadium 80%min at any prices below USD41/kg V in warehouse Rotterdam for the moment," said a trader in Middle Europe. They last sold 10t of ferrovanadium 80%min at USD40.5/kg V about one week ago and didn't receive new inquiries after that. Though their regular clients all prefer to watch the market and inquiries in spot market stay rare now, in view of the tight supply, they expect that the mainstream prices of European ferrovanadium 80%min would stay firm at around USD41/kg V in the coming week.
With a regular trading volume of 40tpm, they expect to sell about 40t in March, almost the same volume as last month, holding no stock now, unchanged MoM.
"We have no inventory pressure for the moment and prefer to hold back from selling. For firm bids and immediate shipment, we ask at least USD41.5/kg V in warehouse Rotterdam now," said another trader in Middle Europe. They last sold out all the 20t of ferrovanadium 80%min inventories at USD40.5/kg V about one week. One buyer wanted to buy 20t with the target price of USD41/kg V this Wednesday and they refused directly. Considering that they could hardly replenish their inventory due to the tight supply in spot market, they believe that the mainstream prices of European ferrovanadium 80% would stay solid in the following week.
With a monthly trading volume of 60t, they expect to sell about 40t this month, down by about 20t from last month due to lack of resources. They have no inventory for the moment, down by about 20t from late last month.
"We could see little Russian resources in spot market and no suppliers would like to sell their ferrovanadium 80%min at any prices below USD41/kg V in warehouse Rotterdam for the moment," said a trader in Middle Europe. They last sold 10t of ferrovanadium 80%min at USD40.5/kg V about one week ago and didn't receive new inquiries after that. Though their regular clients all prefer to watch the market and inquiries in spot market stay rare now, in view of the tight supply, they expect that the mainstream prices of European ferrovanadium 80%min would stay firm at around USD41/kg V in the coming week.
With a regular trading volume of 40tpm, they expect to sell about 40t in March, almost the same volume as last month, holding no stock now, unchanged MoM.
"We have no inventory pressure for the moment and prefer to hold back from selling. For firm bids and immediate shipment, we ask at least USD41.5/kg V in warehouse Rotterdam now," said another trader in Middle Europe. They last sold out all the 20t of ferrovanadium 80%min inventories at USD40.5/kg V about one week. One buyer wanted to buy 20t with the target price of USD41/kg V this Wednesday and they refused directly. Considering that they could hardly replenish their inventory due to the tight supply in spot market, they believe that the mainstream prices of European ferrovanadium 80% would stay solid in the following week.
With a monthly trading volume of 60t, they expect to sell about 40t this month, down by about 20t from last month due to lack of resources. They have no inventory for the moment, down by about 20t from late last month.
