European ferrovanadium prices decline
2023-03-31 07:42:36 [Print]
BEIJING (Asian Metal) 31 Mar 23 - Due to the weak demand from terminal users, European ferrovanadium 80%min market mentality kept negative during the past week. Currently, the mainstream prices of European ferrovanadium 80%min stand at USD38-38.5/kg V in warehouse Rotterdam, down by USD1.5/kg V from late last week. Considering the rare inquiries and sufficient supply in spot market continues, insiders believe that the mainstream prices of European ferrovanadium 80%min would keep moving down in the coming week.
"Buyers could easily find enough goods in spot market and we could hardly sell at any prices above USD38.5/kg V in warehouse Rotterdam now," said a trader in Middle Europe. They just sold 10t of ferrovanadium 80%min at USD38.25/kg V this Tuesday. However, buyers could accept USD39.5/kg V just one week ago. Considering that few buyers would like to add inventory and inquiries in spot market stay rare now, they predict that the mainstream prices of European ferrovanadium 80%min would decline below USD38/kg V in the coming week.
With a monthly trading volume of 40t, they sold about 500t in 2022 and about 120t so far this year. They expect to sell about 40t this month, almost the same volume as February, holding about 20t of regular stocks now, unchanged MoM.
"Our regular clients all prefer to watch the market now and we have to drop our price to guarantee our market competitiveness. For firm bids, we could accept USD38/kg V in warehouse Rotterdam now," said another trader in West Europe. They last sold 10t of ferrovanadium 80%min at USD39/kg V late last week.One of their major clients just bought 10t at USD38/kg V this Wednesday from other suppliers, so they dropped their price to the same level accordingly. Considering that buyers could easily find goods in spot market, they expect that the mainstream prices of European ferrovanadium 80% would drop by at least USD1/kg V in the coming week.
With a regular trading volume of 50tpm, they sold around 600t in 2022 and about 150t so far this year. The suppliers expects to sell about 40t this month, down by about 10t from last month due to lack of orders. They have around 20t of regular inventories for the moment, unchanged MoM.
"Buyers could easily find enough goods in spot market and we could hardly sell at any prices above USD38.5/kg V in warehouse Rotterdam now," said a trader in Middle Europe. They just sold 10t of ferrovanadium 80%min at USD38.25/kg V this Tuesday. However, buyers could accept USD39.5/kg V just one week ago. Considering that few buyers would like to add inventory and inquiries in spot market stay rare now, they predict that the mainstream prices of European ferrovanadium 80%min would decline below USD38/kg V in the coming week.
With a monthly trading volume of 40t, they sold about 500t in 2022 and about 120t so far this year. They expect to sell about 40t this month, almost the same volume as February, holding about 20t of regular stocks now, unchanged MoM.
"Our regular clients all prefer to watch the market now and we have to drop our price to guarantee our market competitiveness. For firm bids, we could accept USD38/kg V in warehouse Rotterdam now," said another trader in West Europe. They last sold 10t of ferrovanadium 80%min at USD39/kg V late last week.One of their major clients just bought 10t at USD38/kg V this Wednesday from other suppliers, so they dropped their price to the same level accordingly. Considering that buyers could easily find goods in spot market, they expect that the mainstream prices of European ferrovanadium 80% would drop by at least USD1/kg V in the coming week.
With a regular trading volume of 50tpm, they sold around 600t in 2022 and about 150t so far this year. The suppliers expects to sell about 40t this month, down by about 10t from last month due to lack of orders. They have around 20t of regular inventories for the moment, unchanged MoM.
