European ferrovanadium prices decline
2023-03-17 16:50:43 [Print]
BEIJING (Asian Metal) 17 Mar 23 - Due to the weak demand from terminal users, European ferrovanadium 80%min market mentality turned negative during the past week. At present, the mainstream prices of European ferrovanadium 80%min stand at USD40.0-40.5/kg V in warehouse Rotterdam, down by USD1/kg V from late last week. Considering that most buyers prefer to watch the market and inquiries in spot market stay rare now, insiders believe that the mainstream prices of European ferrovanadium 80%min would move down slightly in the coming week.
"No buyers would like to add inventory and we could hardly increase our sales volume for the moment. In order to promote sales, we could accept a discount of USD1/kg V for the moment," said a trader in Middle Europe. They just sold 10t of ferrovanadium 80%min to one of their regular clients at USD40/kg V in warehouse Rotterdam this Wednesday. However, they refused to sell at any prices below USD41/kg V just one week ago. They called their major clients during the past days, and found that most buyers' target prices only stayed at no more than USD40/kg V. Considering that inquiries in spot market stay rare now, they predict that the mainstream prices of European ferrovanadium 80%min would drop below USD40/kg V in the coming week.
With a trading volume of 40tpm, the supplier expects to sell about 40t this month, the same as February. They have around 20t of inventories for the moment, unchanged MoM.
"Our steel mill clients halved their monthly consumption and we could hardly maintain our price firm. In order to guarantee our market competitiveness, we could accept USD40.5/kg V in warehouse Rotterdam now," said another trader in Middle Europe. They last sold 10t of ferrovanadium 80%min at USD40.5/kg V this Tuesday. Their clients could easily accept USD41/kg V and some buyers could even accept USD41.5/kg V in retail market just one week ago. Considering that most buyers prefer to watch the market for the moment, they expect that the mainstream prices of European ferrovanadium 80% would move down to around USD39.5/kg V in the following week.
With a monthly trading volume of 60t, they expect to sell about 60t in March, almost the same as last month, holding around 20t of regular stocks for the moment, unchanged MoM.
"No buyers would like to add inventory and we could hardly increase our sales volume for the moment. In order to promote sales, we could accept a discount of USD1/kg V for the moment," said a trader in Middle Europe. They just sold 10t of ferrovanadium 80%min to one of their regular clients at USD40/kg V in warehouse Rotterdam this Wednesday. However, they refused to sell at any prices below USD41/kg V just one week ago. They called their major clients during the past days, and found that most buyers' target prices only stayed at no more than USD40/kg V. Considering that inquiries in spot market stay rare now, they predict that the mainstream prices of European ferrovanadium 80%min would drop below USD40/kg V in the coming week.
With a trading volume of 40tpm, the supplier expects to sell about 40t this month, the same as February. They have around 20t of inventories for the moment, unchanged MoM.
"Our steel mill clients halved their monthly consumption and we could hardly maintain our price firm. In order to guarantee our market competitiveness, we could accept USD40.5/kg V in warehouse Rotterdam now," said another trader in Middle Europe. They last sold 10t of ferrovanadium 80%min at USD40.5/kg V this Tuesday. Their clients could easily accept USD41/kg V and some buyers could even accept USD41.5/kg V in retail market just one week ago. Considering that most buyers prefer to watch the market for the moment, they expect that the mainstream prices of European ferrovanadium 80% would move down to around USD39.5/kg V in the following week.
With a monthly trading volume of 60t, they expect to sell about 60t in March, almost the same as last month, holding around 20t of regular stocks for the moment, unchanged MoM.
