INTL FERRO-ALLOYS CONF: ‘Flexibility Will Be Key’ In 2021 Vanadium Contracts

Flexibility will be purchasing managers’ main priority when signing 2021 vanadium contracts because of the uncertain outlook for steel demand amid the Covid-19 pandemic, delegates heard at Fastmarkets’ International Ferro-alloys Conference online on Wednesday November 11.

Contracts for the year ahead will include increased flexibility on volumes, reflecting sellers’ struggle to lock-in volumes while sentiment and demand were weak, panelists said during the vanadium session on Wednesday.
“Consumers of vanadium, who are negotiating next year’s contracts today, are asking for fairly big tolerances in quantities,” Peter Witz, vice president at Scandinavian Steel, said. “The main reason for that is that they don’t know what the consumption will be like for the year ahead.
“They are asking for small quantities and high quantities,…