European ferrovanadium prices drop
2023-04-07 07:45:17 [Print]
BEIJING (Asian Metal) 7 Apr 23 - In view of the rare inquiries and sufficient supply in spot market, European ferrovanadium 80%min market mentality maintained soft during the past week. Currently, the mainstream prices of European ferrovanadium 80%min stand at USD37-37.5/kg V in warehouse Rotterdam, down by USD1/kg V from late last week. Considering that most buyers prefer to watch the market and weak market mentality continues, insiders believe that the mainstream prices of European ferrovanadium 80%min would move down further in the coming week.
"Buyers kept reluctant to purchase during the past week and we could hardly maintain our price firm. In order to guarantee our market mentality, we could accept USD37.5/kg V in warehouse Rotterdam now," said a trader in Middle Europe. They last sold 10t of ferrovanadium 80%min at USD38.5/kg V about one week ago. They received a 10t of inquiries with the target price of USD37/kg V this Wednesday and they didn't accept as they couldn't guarantee their basic profit at this price level. Considering that buyers could easily find enough goods in spot market for the moment, he expects that the mainstream prices of European ferrovanadium 80%min would drop to around USD37/kg V in the coming week.
With a monthly trading volume of 40t, they sold about 480t in 2022 and about 120t so far this year. They expect to sell about 40t this month, almost the same as last month. They have around 20t of regular inventories now, unchanged MoM.
"Too many suppliers have inventory pressure now and we could easily replenish our inventories at prices no more than USD37.25/kg V in warehouse Rotterdam now," said another trader in Middle Europe. They just bought 20t of ferrovanadium 80%min at this price level this Tuesday. However, no supplier would like to sell at any prices below USD38.5/kg V just one week ago and USD39.5/kg V two weeks ago. Considering that the sufficient supply in spot market continues. He predicts that the mainstream prices of European ferrovanadium 80% would drop below USD37/kg V in the coming week.
With a monthly trading volume of 50t, they sold around 600t in 2022 and about 150t in the first three months in 2023. They expect to sell about 50t this month, the same as last month, holding about 20t of stocks for the moment, unchanged MoM.
"Buyers kept reluctant to purchase during the past week and we could hardly maintain our price firm. In order to guarantee our market mentality, we could accept USD37.5/kg V in warehouse Rotterdam now," said a trader in Middle Europe. They last sold 10t of ferrovanadium 80%min at USD38.5/kg V about one week ago. They received a 10t of inquiries with the target price of USD37/kg V this Wednesday and they didn't accept as they couldn't guarantee their basic profit at this price level. Considering that buyers could easily find enough goods in spot market for the moment, he expects that the mainstream prices of European ferrovanadium 80%min would drop to around USD37/kg V in the coming week.
With a monthly trading volume of 40t, they sold about 480t in 2022 and about 120t so far this year. They expect to sell about 40t this month, almost the same as last month. They have around 20t of regular inventories now, unchanged MoM.
"Too many suppliers have inventory pressure now and we could easily replenish our inventories at prices no more than USD37.25/kg V in warehouse Rotterdam now," said another trader in Middle Europe. They just bought 20t of ferrovanadium 80%min at this price level this Tuesday. However, no supplier would like to sell at any prices below USD38.5/kg V just one week ago and USD39.5/kg V two weeks ago. Considering that the sufficient supply in spot market continues. He predicts that the mainstream prices of European ferrovanadium 80% would drop below USD37/kg V in the coming week.
With a monthly trading volume of 50t, they sold around 600t in 2022 and about 150t in the first three months in 2023. They expect to sell about 50t this month, the same as last month, holding about 20t of stocks for the moment, unchanged MoM.
