European ferrovanadium prices down

Date: Jan 31, 2019

BEIJING (Asian Metal) 31 Jan 19 – The European ferrovanadium market has seen lower prices due to weak demand from consumers. Current mainstream prices for the material sit at USD78.0-79.0/kg V in warehouse Rotterdam, down by USD1.0/kg V from last week. As most consumers hold back from making purchases, insiders predict that the market would remain quiet with decreasing prices in the coming week.

A European ferrovanadium trader claimed that their quotation for ferrovanadium 80%min is around USD79.0/kg V in warehouse Rotterdam now, down by USD1.0/kg V from last week. “The market is quite flat as demand remains weak from our clients. We can accept a counteroffer of USD1.0/kg V for firm bids at most in the spot market,” said the source, who last sold around 3t at USD80.0/kg V D.D.P. to a regular client in early January. As most buyers hold back from rebuilding stocks, the source thinks that the prices would show downtrend in the coming week.

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