Ferrovanadium Prices Edging Higherhttps://www.asianmetal.com/news/data/1334254/European%20ferrovanadium%20prices%20slowly%20edge-up European ferrovanadium prices slowly edge-up
LONDON (Asian Metal) 31 Jan 17 - Prices on the European ferrovanadium 80%min market now stand at USD25.20-25.70/kg V in warehouse Rotterdam duty paid; a USD0.20/kg V price increase as a result of limited trading activity at higher prices on a delivered basis. It is expected that prices may rise further over this week and into next week provided enquiries and purchasing activity is sustained or rises with some offers pushing USD26.00/kg V DDP Europe.
A Western European producer was able to secure a sale of 5 tonnes of material on Thursday of last week for USD25.85/kg V DDP Europe. “This was a very good price we achieved but on larger tonnages we were still achieving lower prices. However, I do expect prices to continue to pick-up but a lot will depend on Chinese offers next week after Chinese New Year.” The source added that they had also been able to sell 10 tonnes earlier last week for USD25.25/kg V DDP Europe but were confident of achieving higher prices this week have seen some offers on the market close to USD26.00/kg V DDP Europe.
The source has less than 20 tonnes in stock, having sold 40 tonnes over January and aiming to achieve the same level next month.
A Western European trader echoed this sentiment, securing a sale of 5 tonnes of material at USD25.50/kg V in warehouse Rotterdam duty paid on Friday of last week. “Prices have been moving up gradually over the last few weeks,” the source revealed to Asian Metal, “and we have very little material. We plan to increase our offering prices this week although enquiries are quite slow.” The source added that they are waiting for enquiries this week but aim to sell at a higher price, having also seen some offers on the market at or close to USD26.00/kg V DDP Europe.
The source, with no more than 5 tonnes in stock, has sold no more than 40 tonnes over January and is aiming to sell a similar amount over February.