South Korean ferrovanadium prices decrease greatly
Date: Mar 27, 2019
BEIJING (Asian Metal) 27 Mar 19 – South Korean ferrovanadium 80%min market continues to see weak demand from downstream consumers. Mainstream prices are in the range of USD57-60/kg V D.D.P. at the moment, down by USD5/kg V from last week. Insiders predict that the market would see lower prices in the coming week due to poor demand from downstream industry.
A ferrovanadium trader in South Korea claimed that they quote USD60/kg V D.D.P. for ferrovanadium 80%min now, down by USD5/kg V from last week and can at most accept a counteroffer of USD3/kg V for firm bids in the spot market. “As the European ferrovanadium prices decreased sharply last week, many traders lose confidence in the market and plan to lower their prices further to entice buyers,” said the source, adding that the last deal of 2t was concluded at around USD62/kg V D.D.P. with a regular client in the spot market early last week. As the demand shows no signs of rebounding, the source predicts that the market would see decreasing prices in the coming week.
