Ferrovanadium prices in India steady
2024-05-01 09:32:35 [Print]
BEIJING (Asian Metal) 1 May 24 - Indian ferrovanadium 50%min suppliers complained about low profits and held prices steady over the past week. Therefore, the current ferrovanadium 50%min mainstream prices in India stand at INR1,150-1,200/kg (USD13.8-14.4/kg) EXW D/P, in line with one week ago. In view that suppliers still prefer to hold stocks rather than mark down prices, insiders predict that the Indian ferrovanadium 50%min market would witness further stable prices in the coming week.
An Indian producer reveals that he holds ferrovanadium 50%min quotation steady at around INR1,200/kg (USD14.4/kg) EXW D/P and considers selling at about INR1,150/kg (USD13.8/kg) at present, the same as one week ago. He concluded his latest deal late last week, when he sold 10t at around INR1,150/kg (USD13.8/kg). "I already face difficulty in gaining margins at current price levels and prefers to hold stocks rather than lower prices," said the producer. As suppliers refuse to make concession on prices, he forecasts that the ferrovanadium 50%min mainstream prices in India would keep hovering at current levels in the coming week.
With an annual production capacity of 2,000t of ferrovanadium 50%min, the producer's outputs in 2023 and so far in 2024 recorded approximately 1,200t and 400t respectively. He produced about 100t in April, without much change MoM. He holds an inventory of around 10t now, a decline of 10t MoM.
Another Indian producer claims that he still quotes around INR1,200/kg (USD14.4/kg) EXW D/P for ferrovanadium 50%min and refuses to accept any counteroffer now, without much change from one week ago. "I last sold five tons at around INR1,200/kg (USD14.4/kg) early last week," said the producer. Although his clients still have no intention to purchase in bulk, he prefers to hold inventory rather than lower prices for low profits. Given that suppliers still refuse to lower prices, he foresees further steady prices in the Indian ferrovanadium 50%min market in the coming week.
The producer, with an annual production capacity of 2,000t of ferrovanadium 50%min, produced around 20t in April, unchanged MoM. His output so far this year recorded about 80t, compared with approximately 600t in 2023. He has around 20t of stocks at present, in line with one month ago.
An Indian producer reveals that he holds ferrovanadium 50%min quotation steady at around INR1,200/kg (USD14.4/kg) EXW D/P and considers selling at about INR1,150/kg (USD13.8/kg) at present, the same as one week ago. He concluded his latest deal late last week, when he sold 10t at around INR1,150/kg (USD13.8/kg). "I already face difficulty in gaining margins at current price levels and prefers to hold stocks rather than lower prices," said the producer. As suppliers refuse to make concession on prices, he forecasts that the ferrovanadium 50%min mainstream prices in India would keep hovering at current levels in the coming week.
With an annual production capacity of 2,000t of ferrovanadium 50%min, the producer's outputs in 2023 and so far in 2024 recorded approximately 1,200t and 400t respectively. He produced about 100t in April, without much change MoM. He holds an inventory of around 10t now, a decline of 10t MoM.
Another Indian producer claims that he still quotes around INR1,200/kg (USD14.4/kg) EXW D/P for ferrovanadium 50%min and refuses to accept any counteroffer now, without much change from one week ago. "I last sold five tons at around INR1,200/kg (USD14.4/kg) early last week," said the producer. Although his clients still have no intention to purchase in bulk, he prefers to hold inventory rather than lower prices for low profits. Given that suppliers still refuse to lower prices, he foresees further steady prices in the Indian ferrovanadium 50%min market in the coming week.
The producer, with an annual production capacity of 2,000t of ferrovanadium 50%min, produced around 20t in April, unchanged MoM. His output so far this year recorded about 80t, compared with approximately 600t in 2023. He has around 20t of stocks at present, in line with one month ago.
