European ferrovanadium market rebounds
2005-09-02 10:27:38 【Print】
BEIJING (Asian Metal) 2 Sep 05- Reacting to the current strong price showings for molyoxide and ferromolybdenum, ferrovanadium 80%min now trades at as high as USD40-42/kg V d.p. in warehouse Rotterdam up from USD32-35/kg V last week, market participants reported to Asian Metal.
“We bought 10t of ferrovanadium this morning for USD42/kg V d.p. in warehouse Rotterdam for prompt shipment,” said a Luxembourg based trader.
The trader attributed buying the material at such a relatively high price, compared to last week at USD32-35/kg V, to the urgent demand from customers. “I believe my customers do anticipate a more bullish ferrovanadium market in the coming days,” continued the trader, “and in order not to be caught unawares, there is no reason for them delaying obtaining the material any longer.”
A Turkish trader confirmed the price rebound of ferrovanadium and reported to Asian Metal that the mainstream price for ferrovanadium is USD37-40/kg V for prompt delivery.
“It’s a good development that the ferrovanadium market is gradually becoming active once again,” said the Turkish trader, “but the current price is still very far below at what the material costs us.” The trader hopes ferrovanadium price could sell for as high as USD115/kg V in order to break-even on the inventory being held currently.
Industry sources believe ferrovanadium price could wax stronger in the coming days like other noble alloys if this trend is sustained.
“We bought 10t of ferrovanadium this morning for USD42/kg V d.p. in warehouse Rotterdam for prompt shipment,” said a Luxembourg based trader.
The trader attributed buying the material at such a relatively high price, compared to last week at USD32-35/kg V, to the urgent demand from customers. “I believe my customers do anticipate a more bullish ferrovanadium market in the coming days,” continued the trader, “and in order not to be caught unawares, there is no reason for them delaying obtaining the material any longer.”
A Turkish trader confirmed the price rebound of ferrovanadium and reported to Asian Metal that the mainstream price for ferrovanadium is USD37-40/kg V for prompt delivery.
“It’s a good development that the ferrovanadium market is gradually becoming active once again,” said the Turkish trader, “but the current price is still very far below at what the material costs us.” The trader hopes ferrovanadium price could sell for as high as USD115/kg V in order to break-even on the inventory being held currently.
Industry sources believe ferrovanadium price could wax stronger in the coming days like other noble alloys if this trend is sustained.
