European ferrovanadium market bows to pressure
2005-10-10 09:18:49 【Print】
BEIJING (Asian Metal) 10 Oct 05 – Having kept stable mainstream at USD65-67/kg V for more than two weeks, coupled with reported few enquiries and then controversial reports of Russian and South African-origin ferrovanadium 80%min being much available in the market and were being reportedly offered for USD61-62/kg V d.p. and USD63.5/kg V d.u. respectively in warehouse Rotterdam for prompt delivery, market participants reported to Asian Metal the material is now being concluded for USD62.5-63.5/kg V d.p. in warehouse Rotterdam for prompt delivery.
A France-based trader is still offering the material for USD64-65/kg V d.p. in warehouse Rotterdam, but he is now prepared to dance to the market tune on USD63/kg V d.p. in warehouse Rotterdam. “Although we have received many enquiries, we can and will accept USD63/kg V d.p.,” alluded the trader to the current market trend more so as the trader has reportedly concluded no ferrovanadium deals this week.
A Luxembourg-based trader confirmed the mainstream price at USD62.5-63.5/kg V d.p. “I believe the market will be stable at USD63/kg V in the coming week as it is a clear indication of the availability of the material in the market,” remarked the trader.
However, a Belgium trader reported selling 10t of ferrovanadium 80%min for USD65/kg V d.p. in warehouse Rotterdam for prompt delivery early this week. “The market is gradually softening, but I still believe that in recent times, USD65/kg V d.p. benchmark seems to be the stable level for all stakeholders, and which we have all enjoyed,” the man concluded.
As Chinese ended their National Day holiday, market analysts believe more enquiries will fly out in the coming week when buyers and end-users could to a large extent, predict the likely direction of the market.
A France-based trader is still offering the material for USD64-65/kg V d.p. in warehouse Rotterdam, but he is now prepared to dance to the market tune on USD63/kg V d.p. in warehouse Rotterdam. “Although we have received many enquiries, we can and will accept USD63/kg V d.p.,” alluded the trader to the current market trend more so as the trader has reportedly concluded no ferrovanadium deals this week.
A Luxembourg-based trader confirmed the mainstream price at USD62.5-63.5/kg V d.p. “I believe the market will be stable at USD63/kg V in the coming week as it is a clear indication of the availability of the material in the market,” remarked the trader.
However, a Belgium trader reported selling 10t of ferrovanadium 80%min for USD65/kg V d.p. in warehouse Rotterdam for prompt delivery early this week. “The market is gradually softening, but I still believe that in recent times, USD65/kg V d.p. benchmark seems to be the stable level for all stakeholders, and which we have all enjoyed,” the man concluded.
As Chinese ended their National Day holiday, market analysts believe more enquiries will fly out in the coming week when buyers and end-users could to a large extent, predict the likely direction of the market.
