Russian ferroniobium price stable but few deals concluded

BEIJING (Asian Metal) 20 May 09 - Russian participants reported that local ferroniobium market run in low level, and the majority of the consumers are watching the market. The mainstream price for ferroniobium is stable at RUB1,250-1,350 /kg Nb (USD37-40/kg Nb) in the spot market, the same with the previous week.
A Chelyabinsk-based trader comments that the market is very slack, and the downstream consumers will not purchase until they think the price is rather low. The source has few ferroniobium stocks for now, but won't intend to come to the market to buy the material. "The price for ferroniobium is stable at RUB1,250-1,300 /kg Nb (USD37-39/kg Nb), but there are few deals concluded in the market, " said the source.
The source believes that the ferroniobium consuming industries remain sluggish, and some traders will decrease the offer for ferroniobium in short-term to attract buyers. "We have received some inquiries in late April, but the market became quiet in May, and the price would decline in the near future," said the source.
A Moscow-based trader did not conclude any deals of ferroniobium in the past three months. The source confirmed that the prevailing price is around RUB1,300 /kg Nb (USD39/kg Nb) in spot market. With a monthly trading volume of around two tons, the source remarks that the Russian ferroniobium market shows no sign of recovery, and the downstream steel mills are still running at low levels. The market will remain sluggish till the end of Q2.