BEIJING (Asian Metal) 19 May 20 – Currently, mainstream prices of South Korean ferrovanadium 80%min stand at USD24-25/kg V in port of Busan, down by USD0.5/kg V from last week. Inquiries from end consumers are rare to see and most suppliers are watching the market. Insiders believe that mainstream prices of South Korean ferrovanadium would stay weak in the coming week.

“Prices of ferrovanadium 80%min stand at around USD25/kg V in port of Busan now and we closed the deal for 20t at USD24.5/kg V late last week,” a trader in South Korea said. At the moment, all their regular clients only purchase according to urgent need and they could hardly increase their sales volume. According to the inquiries from their downstream clients, he believes that prices of South Korean ferrovanadium 80%min would drop to USD24/kg V in the coming week.

With a regular trading volume of 40tpm, their sales volume depends on the demand of their regular clients. They expect to sell about 40t in May, unchanged from April, holding no stocks now, down by 20t from last month.

“We quote at USD24.5/kg V in port of Busan and sold 20t at USD24/kg V this Monday to one of our regular clients,” another trader in South Korea said. Their end consumer clients only purchase according to urgent need and trading clients only do back to back trading at the moment. Considering inquiries are rare to see now, he believes that prices of South Korean ferrovanadium 80%min would stay weak in the coming week.

With a regular trading volume of 40tpm, they expect to sell 50t in May, unchanged from last month, holding no stokcs at the month, the same as April.

www.asianmetal.com