Low discounts mark deals for ferrovanadium

Dec 14, 2007 | 04:29 PM | Meghann McDonell

Ferrovanadium users who locked in 2008 contracts found much smaller discounts than in previous years, pushing contract terms closer to spot pricing and helping to ensure a brisk spot market next year, market sources said.

"Discounts on contracts are substantially lower than in past years," a trader said. "This is a function of supply and demand fundamentals. If the market was oversupplied then we'd see prices falling, and if there wasn't enough material we'd see them rising. In this relatively flat market any units will find a home, so we're seeing some guys cut discounts in half and some by even more than that."....

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