Russian and South-African origin FeV to force price down?
2005-09-30 09:56:48 【Print】
BEIJING (Asian Metal) 30 Sep 05 – As traders and suppliers lament of few enquiries and few concluded deals this week at USD66-67/kg V d.p. in warehouse Rotterdam, market reports indicate they may have more to contend with as Russian and South African-origin ferrovanadium 80%min reportedly are now being offered for USD61-62/kg V d.p. and USD63.5/kg V d.u. in warehouse Rotterdam for prompt delivery.
A Hungary-based trader reported receiving a –10t Russian –origin ferrovanadium 80%min offer for USD61-62/kg V d.p. in warehouse Rotterdam for prompt delivery. “We received a 10t offer for Russian material, but given the current situation in the market this week, we have not accepted it and rather prefer monitoring development in the market as we envisage the price could fall further,”
A Swedish trader confirmed same as he reported to be not in a hurry accepting the Russian-origin ferrovanadium 80%min offer at USD61/kg V d.p. in warehouse Rotterdam for prompt delivery.
“Critically evaluating the market as it is now, the caveat is, ‘look before you leap’ as accepting that offer, though tempting, could in the end, amount to accepting a Greek gift,” the trader reasoned. “It seems many of the steel mills have concluded for fourth quarter,” continued the trader, “and besides, there seems to be a flood of South African-origin material in the market.”
This Wednesday, a Russia-based trading group with material stocked in warehouse Rotterdam had reported the general feelings of market participants. “Although we received a 2-container offer of a South Africa-origin ferrovanadium 81.2%min for USD63.5/kg V d.u. in warehouse Rotterdam this week,” said the spokeswoman for the trading group, “we can neither accept it nor give a counter bid for now because we fear price may fall in view of few enquiries these days.”
However, some traders reportedly have stoutly refuted any flooding of any-origin material in the market, be it Russian or whatever origin and claimed the offer is still firm at USD66-67/kg V d.p. in warehouse Rotterdam for prompt delivery.
A South-Korea based trading group with material warehoused in Rotterdam is reported offering a container of ferrovanadium 80%min for USD66/kg V d.p. for prompt delivery but has not concluded any deal this week. “Our offer is still USD66/kg V d.p. in warehouse Rotterdam, and we expect strong demand as we begin the fourth quarter,” said a spokeswoman for the trading group.
A Turkish trader who also is offering ferrovanadium 80%min for USD66/kg V d.p. in warehouse Rotterdam for prompt delivery, but can accept USD65/kg V d.p. defended his offer.
“We are ready to buy the material from anybody who is offering any-origin ferrovanadium 80%min for USD61-62/kg V d.p. in warehouse Rotterdam, and they should get in touch with us,” the trader challenged. “I want to believe they are only testing the pulse of the market with a view to manipulating it,” concluded the trader.
As Chinese are already in a one-week National Day holiday mood, and as we round up the third-quarter trading activity today, market participants hope for a stable and active trading session in the fourth quarter.
A Hungary-based trader reported receiving a –10t Russian –origin ferrovanadium 80%min offer for USD61-62/kg V d.p. in warehouse Rotterdam for prompt delivery. “We received a 10t offer for Russian material, but given the current situation in the market this week, we have not accepted it and rather prefer monitoring development in the market as we envisage the price could fall further,”
A Swedish trader confirmed same as he reported to be not in a hurry accepting the Russian-origin ferrovanadium 80%min offer at USD61/kg V d.p. in warehouse Rotterdam for prompt delivery.
“Critically evaluating the market as it is now, the caveat is, ‘look before you leap’ as accepting that offer, though tempting, could in the end, amount to accepting a Greek gift,” the trader reasoned. “It seems many of the steel mills have concluded for fourth quarter,” continued the trader, “and besides, there seems to be a flood of South African-origin material in the market.”
This Wednesday, a Russia-based trading group with material stocked in warehouse Rotterdam had reported the general feelings of market participants. “Although we received a 2-container offer of a South Africa-origin ferrovanadium 81.2%min for USD63.5/kg V d.u. in warehouse Rotterdam this week,” said the spokeswoman for the trading group, “we can neither accept it nor give a counter bid for now because we fear price may fall in view of few enquiries these days.”
However, some traders reportedly have stoutly refuted any flooding of any-origin material in the market, be it Russian or whatever origin and claimed the offer is still firm at USD66-67/kg V d.p. in warehouse Rotterdam for prompt delivery.
A South-Korea based trading group with material warehoused in Rotterdam is reported offering a container of ferrovanadium 80%min for USD66/kg V d.p. for prompt delivery but has not concluded any deal this week. “Our offer is still USD66/kg V d.p. in warehouse Rotterdam, and we expect strong demand as we begin the fourth quarter,” said a spokeswoman for the trading group.
A Turkish trader who also is offering ferrovanadium 80%min for USD66/kg V d.p. in warehouse Rotterdam for prompt delivery, but can accept USD65/kg V d.p. defended his offer.
“We are ready to buy the material from anybody who is offering any-origin ferrovanadium 80%min for USD61-62/kg V d.p. in warehouse Rotterdam, and they should get in touch with us,” the trader challenged. “I want to believe they are only testing the pulse of the market with a view to manipulating it,” concluded the trader.
As Chinese are already in a one-week National Day holiday mood, and as we round up the third-quarter trading activity today, market participants hope for a stable and active trading session in the fourth quarter.
