Ferrovanadium,Ferro Vanadium sees lower prices

According to European dealers, price of ferrovanadium decreased in the last several days as there are some profit-taking in current market. However, most dealers are still confident that the price will continue the upward trend next week after more consumers come to market.
A European trader told Asian Metal that he sold a small batch of 80%min ferrovanadium in the middle of the week at USD34.80/kg V d.d.p. to a consumer. "Market is still dull and we are seeing lower offers from few people," said the trader, and he thinks he can get 80%min ferrovanadium at around USD34.50/kg V d.p. in warehouse Rotterdam from other traders.
"Most dealers are still optimistic that the price will turn around in the beginning of September," said the trader, adding that he is one of them. He learnt that the production of steel mills are going to improve, but there also will be many problems when the manufacturers start running their business. The source disclosed that he has a lot of contracts to deliver this week for the consumers' production next week. "But we need more demand to push the market in the positive direction."
Another European trader confirmed the decreasing ferrovanadium price in Europe, and he has not concluded any deal of ferrovanadium in the last few days as he does not want to sell the material he has on hand at cheap prices. "I have just a few ton in stock, and I do not need cash that urgent," he said. The trader confirmed the price in the range of USD34.00-36.00/kg V in warehouse Rotterdam, but holds that there is almost no deal concluded at above USD35.00/kg V this week due to the weak demand.
"We are seeing a few consumers, but the asked volume is far less than we expected," the trader remarked. He still expects the price will go up after the profit taking in European market. "This is no point to panic," and he sees supply is still tight as no one holds large volume of stock in Europe.