Less Supply, Higher Price In European Market

www.ferroalloynet.com: Since the lockdown of South Africa, European prices have continued to show a strong upward trend. Compared with V2O5, the increase of ferrovanadium is relatively small and relatively rational and stable. According to the market report settled yesterday, the FeV price has increased slightly. The price of ferrovanadium in the European market is 25.25-26.25 USD/KgV, convert into 50# ferrovanadium RMB price is 89,400-93,000 Yuan/ton. The price of European V2O5 was 6.9-7.45 USD/LB V2O5, convert into V2O5 98% RMB price was 105,600-114,000 Yuan/ton; the price of ferrovanadium in United States was 10.50-11.00 USD/LB V, convert into 50# ferrovanadium RMB price was 82,000-85,900 Yuan/ton. Today’s exchange rate is USD: RMB = 7.0842:1.

Although the price in European market is firm, in fact, the volume of transactions is small. Only a few transactions in FeV market break through 26 USD/KgV, and most transactions are still between 25.0-26.0 USD/KgV. However, the stimulus of the price rise in European market is only the market’s concern on supply. In fact, the demand is also weakened by the impact of the COVID-19 epidemic. At present, the market procurement is mainly for stocks preparation, It is hard to maintain the long-term rise in the later future. Let’s continue to focus on the new policy regarding South Africa’s lockdown, and looking forward to economic recovery.

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