European Ferrovanadium Prices Edge Up
BEIJING (Asian Metal) 2 Sep 19 – Currently, mainstream prices for European ferrovanadium 80%min stand at USD31.1-32.1/kg V in warehouse Rotterdam D/A 30 days, up by USD0.1/kg V from last week. As prices of raw material vanadium pentoxide flake increase slightly, suppliers of ferrovanadium try to increase their quotation accordingly. Insiders believe prices of ferrovanadium would edge up in the coming week.
A trader in East Europe quotes their ferrovanadium 80%min at USD31.5/kg V in warehouse Rotterdam D/A 30 days and can accept USD31.3/kg V for firm bids at the moment, up by USD0.2/kg V from last Monday. Their last deal was made last Thursday, when they sold 20t at USD31.3/kg V. “Prices of raw material vanadium pentoxide flake 98%min keep around at USD7.2/lb V2O5 in warehouse Rotterdam at the moment, up by USD0.2/lb V2O5 from one week ago. So, our suppliers are trying to increase their quotation for ferrovanadium 80%min by USD0.2/kg V from one week ago now,” said the source. He believes dealing prices of ferrovanadium 80%min would increase to USD31.5/kg V in the coming week.
With a regular trading volume of 40tpm for ferrovanadium, they sold 450t in 2018 and have sold 300t so far in 2019. They sold 40t in August and expect the same volume in September, holding 20t of stocks now, unchanged from last month.
A trader in West Europe noted their quotation for ferrovanadium 80%min stands at USD32.0/kg V in warehouse Rotterdam D/A 30 days and can accept USD31.8/kg V for firm bids, up by USD0.1/kg V from one week ago. “Our clients are in summer holiday for the whole August and they will come back to market from early September. We are waiting for demand growing and I believe prices would keep increasing in the coming week,” said the source. Their last deal was made early last week, when they bought 26t at USD31.5/kg V. He added, “Our profit margin needs to be at least USD0.2/kg V and then we will consider to accept new orders.” He believes prices of ferrovanadium 80%min would go above USD32.0/kg V in the coming week.
With a regular trading volume of 30tpm for ferrovanadium, they sold 350t in 2018 and have finished 200t this year. They didn’t sell in August for the summer holiday and expect to sell 30t in September, holding 52t of stocks now, up by 26t from last month.
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