European ferrovanadium prices move up steadily
2023-03-03 08:20:12 [Print]
BEIJING (Asian Metal) 3 Mar 23 - Without Russian resources in spot market due to the sanctions, European ferrovanadium market saw tight supply and the market mentality kept going strong during the past week. At present, the mainstream prices of European ferrovanadium 80%min stand at USD40.5-41/kg V in warehouse Rotterdam, up by USD1/kg V from late last week. In view of the tight supply and positive market mentality, insiders believe that the mainstream prices of European ferrovanadium 80%min would edge up in the coming week.
"No suppliers have inventory pressure for the moment, and we could hardly find any resources in spot market at any prices below USD40.5/kg V in warehouse Rotterdam for the moment," said a trader in East Europe. They last bought 10t of ferrovanadium 80%min at USD39.5/kg V about one week ago and sold to their terminal client immediately. They quote USD41/kg V to their regular clients for the moment and refuse to accept any discount. Considering that Russian resources couldn't follow into European market due to the sanctions, they believe that the mainstream prices of European ferrovanadium 80%min would move up gradually and stay above USD42/kg V in the coming week.
With a monthly trading volume of 40t, they expect to produce about 40t this month, almost the same as last month, holding no stock for the moment, unchanged MoM.
"Suppliers all prefer to hold back from selling now as they couldn't get Russian resources due to the sanctions. For firm bids, no suppliers would like to sell at any prices below USD41/kg V in warehouse Rotterdam now," said a trader in Middle Europe. They last bought 10t of ferrovanadium 80%min at USD40/kg V late last week and sent to their client directly. In view of the tight supply in spot market, they expect that the mainstream prices of European ferrovanadium 80% would increase by at least USD1/kg V in the following week.
With a regular trading volume of 40tpm, the supplier expects to sell about 40t this month, up by about 10t from last month. They have no stock now, unchanged MoM.
"No suppliers have inventory pressure for the moment, and we could hardly find any resources in spot market at any prices below USD40.5/kg V in warehouse Rotterdam for the moment," said a trader in East Europe. They last bought 10t of ferrovanadium 80%min at USD39.5/kg V about one week ago and sold to their terminal client immediately. They quote USD41/kg V to their regular clients for the moment and refuse to accept any discount. Considering that Russian resources couldn't follow into European market due to the sanctions, they believe that the mainstream prices of European ferrovanadium 80%min would move up gradually and stay above USD42/kg V in the coming week.
With a monthly trading volume of 40t, they expect to produce about 40t this month, almost the same as last month, holding no stock for the moment, unchanged MoM.
"Suppliers all prefer to hold back from selling now as they couldn't get Russian resources due to the sanctions. For firm bids, no suppliers would like to sell at any prices below USD41/kg V in warehouse Rotterdam now," said a trader in Middle Europe. They last bought 10t of ferrovanadium 80%min at USD40/kg V late last week and sent to their client directly. In view of the tight supply in spot market, they expect that the mainstream prices of European ferrovanadium 80% would increase by at least USD1/kg V in the following week.
With a regular trading volume of 40tpm, the supplier expects to sell about 40t this month, up by about 10t from last month. They have no stock now, unchanged MoM.
