European ferrovanadium market leaps strongly
2005-09-08 10:32:02 【Print】
BEIJING (Asian Metal) 8 Sep 05 – Reminiscent to an athlete who had just won a gold medal at an Olympic events being pursued by different companies with different tempting advertisement offers, ferrovanadium 80%min is being feverishly sought for by traders, suppliers and end-users alike, but there is tight supply of the material now, resulting in the mainstream price leaping from USD48-50/kg V d.p. early this week to the current USD60-65/kg V d.p. in warehouse Rotterdam, market reports indicated to Asian Metal.
A Turkey-based trader reportedly just sold 7t of ferrovanadium 80%min to a Polish trader at USD60/kg V d.p. “We offered to a customer two days ago at USD51-53/kg V d.u. but he arrogantly refused, insisting on USD50/kg V d.p.,” said the spokeswoman to the trading company. “By the time he came back today,” continued the spokeswoman, “he was surprised our offer now goes for USD65/kg d.u. as we just sold 7t at USD60/kg V.”
A Swedish trader confirmed the new high ferrovanadium price selling around USD60/kg V d.p. warehouse Rotterdam. “We just sold 3t of ferrovanadium 80%min to a customer at USD61/kg V d.p. in warehouse Rotterdam,” reported the trader. The trader concluded: “From the look of things, there appears to be no material now, and given the trend in enquiries and concluded deals, and the rate at which the price rise on a daily basis, I believe it will not be long before ferrovanadium 80%min and ferromolybdenum 65%min sell at the same price level.”
Market watchers, however, anticipate a stable but firm trading deals at below or around USD80/kg V given the fact that the recently sales and concluded deals were part of the inventories that were obtained at around USD75/kg V about three months ago.
