BEIJING (Asian Metal) 5 May 23 – Due to the sufficient supply and weak demand from terminal users, European ferrovanadium 80%min market mentality went soft during the past week. Currently, the mainstream prices of European ferrovanadium 80%min stay at USD32.5-33/kg V in warehouse Rotterdam, down by USD1/kg V from late last week. In view of the quiet market, insiders believe that the mainstream prices of European ferrovanadium 80%min would keep going down in the coming week.
“Few buyers would like to add inventory and we could hardly guarantee our monthly sales volume. In order to promote sales, we could accept USD33/kg V in warehouse Rotterdam now,” said a trader in Middle Europe. They last sold 10t of ferrovanadium 80%min at USD34/kg V late last week and didn’t receive any new inquiries after that. Considering that most buyers prefer to watch the market and the quiet market continues, they predict that the mainstream prices of European ferrovanadium 80%min would move down to around USD32/kg V in the coming week.
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