European ferrovanadium prices keep moving down
2023-03-24 07:40:18 [Print]
BEIJING (Asian Metal) 24 Mar 23 - In view of the soft demand from end users, European ferrovanadium 80%min market mentality maintained weak during the past week
"Clients could easily find enough goods in spot market and none of them would like to purchase at any prices above USD39.5/kg V in warehouse Rotterdam for the moment," said a trader in North Europe. They last sold 10t of ferrovanadium 80%min at USD40/kg V late last week and could accept USD39.5/kg V now. They received a 10t of inquiry this Wednesday with the target purchase price of USD39/kg V, and they didn't accept as they couldn't guarantee their basic profit at this price level. Considering that most buyers prefer to watch the market and the weak market mentality continues, they expect that the mainstream prices of European ferrovanadium 80%min would move down below USD39/kg V in the following week.
With a regular trading volume of 40t, they sold about 480t in 2022 and about 40t so far this year. They expect to sell about 40t this month, almost the same as last month, holding around 20t of inventories for the moment, up by about 20t MoM.
"We could easily replenish our inventory but could hardly find enough orders for the moment. In order to promote sales, we could accept USD39/kg V in warehouse Rotterdam now," said a trader in Middle Europe. They just last sold 10t of ferrovanadium 80%min at USD40/kg Mo about one week ago . One buy wanted to buy 5t with the target price of USD38.25/kg V this Wednesday and they didn't accept . Considering that the sufficient supply and rare inquiries in spot market continues, they predict that the mainstream prices of European ferrovanadium 80% would drop below USD38.5/kg V in the coming week.
With a trading volume of 50tpm, they sold around 600t in 2022 and about 100t in the first two months of 2023. They expect to sell about 50t this month, almost the same as last month, holding 20t of regular stocks now, unchanged MoM.
. Currently, the mainstream prices of European ferrovanadium 80%min stand at USD39 . 0-39.5/kg V in warehouse Rotterdam, down by USD1/kg V from late last week . Considering that the sufficient supply in spot market continues, insiders believe that the mainstream prices of European ferrovanadium 80%min would drop further in the coming week.
"Clients could easily find enough goods in spot market and none of them would like to purchase at any prices above USD39.5/kg V in warehouse Rotterdam for the moment," said a trader in North Europe. They last sold 10t of ferrovanadium 80%min at USD40/kg V late last week and could accept USD39.5/kg V now. They received a 10t of inquiry this Wednesday with the target purchase price of USD39/kg V, and they didn't accept as they couldn't guarantee their basic profit at this price level. Considering that most buyers prefer to watch the market and the weak market mentality continues, they expect that the mainstream prices of European ferrovanadium 80%min would move down below USD39/kg V in the following week.
With a regular trading volume of 40t, they sold about 480t in 2022 and about 40t so far this year. They expect to sell about 40t this month, almost the same as last month, holding around 20t of inventories for the moment, up by about 20t MoM.
"We could easily replenish our inventory but could hardly find enough orders for the moment. In order to promote sales, we could accept USD39/kg V in warehouse Rotterdam now," said a trader in Middle Europe. They just last sold 10t of ferrovanadium 80%min at USD40/kg Mo about one week ago . One buy wanted to buy 5t with the target price of USD38.25/kg V this Wednesday and they didn't accept . Considering that the sufficient supply and rare inquiries in spot market continues, they predict that the mainstream prices of European ferrovanadium 80% would drop below USD38.5/kg V in the coming week.
With a trading volume of 50tpm, they sold around 600t in 2022 and about 100t in the first two months of 2023. They expect to sell about 50t this month, almost the same as last month, holding 20t of regular stocks now, unchanged MoM.