BEIJING (Asian Metal) 16 Dec 19 – Currently, mainstream prices for European ferrovanadium 80%min stand at USD21.8-22.8/kg V in warehouse Rotterdam, down by USD0.7/kg V from last week. Consumers only make purchase according to urgent need and the market keeps quiet now. Considering most suppliers are facing high pressure to reduce their stocks, insiders believe that prices of European ferrovanadium would edge down in the coming week.

A trader in Middle Europe noted that the current price for ferrovanadium 80%min he received stands at USD22.5/kg V in warehouse Rotterdam and can buy at USD22.0/kg V for firm bids now, down by USD0.5/kg V from last week. “I received an inquiry for 20t from one of our regular clients during the past week but the buyer only wanted to buy at no more than RMB21.8/kg V,” said the source. He added, “Inquiries from new clients are rare to see at the moment. However, we must guarantee at least USD0.5/kg V for basic profit margin then would consider to accept orders.” Their last deal was made two weeks ago, when they sold 20t at USD23.0/kg V. He believes that prices of European ferrovanadium 80%min would drop by USD0.3/kg V in the coming week.

With a regular trading volume of 40tpm for ferrovanadium, they sold 450t in 2018 and have sold 350t so far this year. They expect to sell 30t in December, down by 10t from last month, holding 40t of stocks now, unchanged from last month.

A consumer in West Europe claimed that the lowest quotation for ferrovanadium 80%min he received stays at USD22.8/kg V in warehouse Rotterdam and can buy at USD21.8/kg V for firm bids, down by USD0.7/kg V from last week. “I sent some inquiries to our regular suppliers during the past week and I learned that most of them are facing high pressure to reduce their stocks,” said the source. He added, “We prepare to buy 10t in the coming week and I believe that we can finish the purchase at no more than RMB21.5/kg V.” Their last deal was made at the end of November, when they bought 20t at USD22.8/kg V. He believes that prices of European ferrovanadium 80%min would drop by USD0.3/kg V in the coming week.

With an annual consumption capacity of 400t, they consumed 360t in 2018 and have sold 330t so far this year. They expect to consume 30t in December, the same as November. They have about 20t of stocks now, dowm by 20t from last month.

www.asianmetal.com