ferro vanadium market stabilizing at USD32/kg

On fairly effective cap on supply to spot market ferrovanadium prices seemed to have stabilized at USD32.00/kg V d.p. in warehouse Rotterdam having falling by up to USD2.00/kg V d.p. in the past several week.
A western trader disclosed he sold 5t of FeV 80%min grade material at USD32.80/kg V and would offer another 5t by mid-week at USD32.60/kg V d.p. in warehouse Rotterdam for prompt delivery. "we are seeing reasonable demand though trade margin is low," said the source.
Another source reportedly sold a truckload at USD32.20/kg V d.p. and was waiting for confirmation of another 5t at USD33.20/kg V but with extended payment terms. The source thinks there is no panic on the side of dealers any more as "days of many unsolicited offers appear to have gone for the moment."
In a related development, however, vanadium pentoxide material is being offered at USD9.20/lb but some suppliers reported to have accepted bid at USD8.50/lb. A western trader lamented the slow movement of the material in the past three weeks and said it was risky to have taken positions on the market for the fact that enquiries from end-users were almost non-existent.
With or without demand, two sources close to Chinese suppliers revealed to Asian Metal there were not many material shipped from China at beginning of the month, so it is speculated there could be some two to three weeks of low inventory in warehouse next month, and this could benefit the dealers with material though everything else depends upon volume of orders in the market at the time.