European ferrovanadium prices keep moving down
2023-04-28 08:05:13 [Print]
BEIJING (Asian Metal) 28 Apr 23 - In view of the soft demand and sufficient supply in spot market, European ferrovanadium 80%min market mentality maintained negative during the past week. At present, the mainstream prices of European ferrovanadium 80%min stay at USD33.5-34/kg V in warehouse Rotterdam, down by USD1.5/kg V from late last week. Considering that most buyers prefer to watch the market and the quiet market continues, insiders believe that the mainstream prices of European ferrovanadium 80%min would drop below USD33/kg V in the coming week.
"We could see little inquiries for the moment and have to loosen our prices to attract buyers' interest. For firm bids, we could accept USD33.5/kg V in warehouse Rotterdam now," said a trader in Middle Europe. They last sold 10t of ferrovanadium 80%min at USD34/kg V two days ago. However, buyers could still accept USD35/kg V just one week before. They called their major clients yesterday, but buyers' target prices only stayed at no more than USD33/kg V and some buyers only wanted to purchase at around USD32/kg V. Considering that most buyers prefer to watch the market now, they expect that the mainstream prices of European ferrovanadium 80%min would drop below USD33/kg V in the following week.
With a monthly trading volume of 40t, they sold about 480t in 2022 and about 120t in the first quarter of 2023. They expect to sell about 30t this month, down by about 10t from March due to lack of orders. They have around 10t of stocks for the moment, down by about 10t MoM.
"Buyers all prefer to watch the market for the moment as they could easily find enough goods in spot market. In order to guarantee our market competitiveness, we could accept USD33.5/kg V in warehouse Rotterdam for the moment," said another trader in Middle Europe. They just sold 10t of ferrovanadium 80%min at this price level two days ago. However, they refused to sell at any prices below USD35/kg V last week. Considering that the sufficient supply in spot market continues, they predict that the mainstream prices of European ferrovanadium 80% would move down by at least USD1/kg V in the coming week.
With a regular trading volume of 40tpm, they sold around 480t in 2022 and about 150t so far this year. They expect to sell about 40t this month, almost the same as last month, holding around 20t of stocks now, unchanged MoM.
"We could see little inquiries for the moment and have to loosen our prices to attract buyers' interest. For firm bids, we could accept USD33.5/kg V in warehouse Rotterdam now," said a trader in Middle Europe. They last sold 10t of ferrovanadium 80%min at USD34/kg V two days ago. However, buyers could still accept USD35/kg V just one week before. They called their major clients yesterday, but buyers' target prices only stayed at no more than USD33/kg V and some buyers only wanted to purchase at around USD32/kg V. Considering that most buyers prefer to watch the market now, they expect that the mainstream prices of European ferrovanadium 80%min would drop below USD33/kg V in the following week.
With a monthly trading volume of 40t, they sold about 480t in 2022 and about 120t in the first quarter of 2023. They expect to sell about 30t this month, down by about 10t from March due to lack of orders. They have around 10t of stocks for the moment, down by about 10t MoM.
"Buyers all prefer to watch the market for the moment as they could easily find enough goods in spot market. In order to guarantee our market competitiveness, we could accept USD33.5/kg V in warehouse Rotterdam for the moment," said another trader in Middle Europe. They just sold 10t of ferrovanadium 80%min at this price level two days ago. However, they refused to sell at any prices below USD35/kg V last week. Considering that the sufficient supply in spot market continues, they predict that the mainstream prices of European ferrovanadium 80% would move down by at least USD1/kg V in the coming week.
With a regular trading volume of 40tpm, they sold around 480t in 2022 and about 150t so far this year. They expect to sell about 40t this month, almost the same as last month, holding around 20t of stocks now, unchanged MoM.
