American ferrovanadium prices drop
2023-04-28 10:24:17 [Print]
BEIJING (Asian Metal) 28 Apr 23 - In view of the dropping international market prices and soft demand in domestic market, American ferrovanadium market mentality stayed negative over the past week. Currently, the mainstream prices of American ferrovanadium 80%min stand at USD37-37.5/kg V Ex-warehouse, down by USD1.5/kg V from late last week. Considering that few buyers would like to add inventory and the rare inquiries in spot market continues, insiders believe that the mainstream prices of American ferrovanadium 80%min would move down in the coming week.
"As international market prices kept moving down during the past week, all regular clients refuse to add inventory for the moment. For firm bids, we could at most sell at USD37/kg V Ex-warehouse now," said another trader in South America. They just sold 10t of ferrovanadium 80%min at this price level this Wednesday. However, buyers could still accept USD39.24/kg V about three weeks before. Prices of international ferrovanadium 80%min they inquired dropped to the latest around USD34/kg V without sea freight. In view of the dropping prices in production area, they expect that the mainstream prices of American ferrovanadium 80%min would move down slightly in the coming week.
With a monthly trading volume of 60t, they expect to sell about 60t this month, unchanged from last month as they have fixed regular clients, holding about 20t of inventories for the moment, unchanged MoM.
"Suppliers asked at least USD38/kg V Ex-warehouse last week, but we could easily purchase at USD37/kg V now. In view of the dropping prices, we refuse to build inventory and prefer to watch the market for the moment," said another trader in South China. They last built 10t of ferrovanadium 80%min at USD43.5/kg V about two months ago. Considering that they could only sell to their regular clients and they could see little inquiries in spot market now, they expect that the mainstream prices of American ferrovanadium 80%min would drop further in the following week.
With a regular trading volume of 30tpm, they expect to sell about 30t this month to their regular clients, almost the same as last month. They have no inventory for the moment, unchanged MoM.
"As international market prices kept moving down during the past week, all regular clients refuse to add inventory for the moment. For firm bids, we could at most sell at USD37/kg V Ex-warehouse now," said another trader in South America. They just sold 10t of ferrovanadium 80%min at this price level this Wednesday. However, buyers could still accept USD39.24/kg V about three weeks before. Prices of international ferrovanadium 80%min they inquired dropped to the latest around USD34/kg V without sea freight. In view of the dropping prices in production area, they expect that the mainstream prices of American ferrovanadium 80%min would move down slightly in the coming week.
With a monthly trading volume of 60t, they expect to sell about 60t this month, unchanged from last month as they have fixed regular clients, holding about 20t of inventories for the moment, unchanged MoM.
"Suppliers asked at least USD38/kg V Ex-warehouse last week, but we could easily purchase at USD37/kg V now. In view of the dropping prices, we refuse to build inventory and prefer to watch the market for the moment," said another trader in South China. They last built 10t of ferrovanadium 80%min at USD43.5/kg V about two months ago. Considering that they could only sell to their regular clients and they could see little inquiries in spot market now, they expect that the mainstream prices of American ferrovanadium 80%min would drop further in the following week.
With a regular trading volume of 30tpm, they expect to sell about 30t this month to their regular clients, almost the same as last month. They have no inventory for the moment, unchanged MoM.
