European ferrovanadium prices keep moving down
2023-04-14 08:09:04 [Print]
BEIJING (Asian Metal) 14 Apr 23 - Due to the sufficient supply and rare inquiries in spot market, European ferrovanadium 80%min market mentality kept going weak during the past week. At present, the mainstream prices of European ferrovanadium 80%min stand at USD36.5-37/kg V in warehouse Rotterdam, down by USD0.5/kg V from late last week. Considering that the negative market mentality continues, insiders believe that the mainstream prices of European ferrovanadium 80%min would keep moving down in the coming week.
"No buyers would like to purchase at any prices above USD37/kg V in warehouse Rotterdam for the moment as thy could easily find enough goods in spot market. In order to guarantee our market competitiveness, we could accept USD36.5/kg V now," said a trader in Middle Europe. They last sold 10t of ferrovanadium 80%min at USD37.5/kg V late last week and 10t at USD38.25/kg V about two weeks ago. Considering that most buyers prefer to watch the market and the rare inquiries in spot market continues, they predict that the mainstream prices of European ferrovanadium 80%min would drop below USD36/kg V in the coming week.
With a regular trading volume of 40tpm, they sold about 480t in 2022 and about 120t in the first three months of 2023. They expect to sell about 40t this month, almost the same as last month, holding around 20t of regular stocks for the moment, unchanged MoM.
"Our regular clients all prefer to consume their inventory for the moment and we could hardly increase our sales volume. In order to promote sales, we could accept USD37/kg V in warehouse Rotterdam now," said a trader in East Europe. They last sold 10t of ferrovanadium 80%min at USD37.5/kg V about one week ago and didn't receive any inquiries after that. Prices of vanadium pentoxide flake 98%min they inquired also dropped below USD9/lb V2O5 in warehouse Rotterdam now. As they could easily feel the weak market mentality, they expect that the mainstream prices of European ferrovanadium 80% would drop by at least USD0.5/kg V in the following week.
With a monthly trading volume of 40t, they sold around 500t in 2022 and about 100t so far this year. They expect to sell about 40t this month, the same as last month. They have about 20t of inventories for the moment, unchanged MoM.
"No buyers would like to purchase at any prices above USD37/kg V in warehouse Rotterdam for the moment as thy could easily find enough goods in spot market. In order to guarantee our market competitiveness, we could accept USD36.5/kg V now," said a trader in Middle Europe. They last sold 10t of ferrovanadium 80%min at USD37.5/kg V late last week and 10t at USD38.25/kg V about two weeks ago. Considering that most buyers prefer to watch the market and the rare inquiries in spot market continues, they predict that the mainstream prices of European ferrovanadium 80%min would drop below USD36/kg V in the coming week.
With a regular trading volume of 40tpm, they sold about 480t in 2022 and about 120t in the first three months of 2023. They expect to sell about 40t this month, almost the same as last month, holding around 20t of regular stocks for the moment, unchanged MoM.
"Our regular clients all prefer to consume their inventory for the moment and we could hardly increase our sales volume. In order to promote sales, we could accept USD37/kg V in warehouse Rotterdam now," said a trader in East Europe. They last sold 10t of ferrovanadium 80%min at USD37.5/kg V about one week ago and didn't receive any inquiries after that. Prices of vanadium pentoxide flake 98%min they inquired also dropped below USD9/lb V2O5 in warehouse Rotterdam now. As they could easily feel the weak market mentality, they expect that the mainstream prices of European ferrovanadium 80% would drop by at least USD0.5/kg V in the following week.
With a monthly trading volume of 40t, they sold around 500t in 2022 and about 100t so far this year. They expect to sell about 40t this month, the same as last month. They have about 20t of inventories for the moment, unchanged MoM.
