Suppliers are offering wider discounts in early negotiations for long-term ferro-vanadium contracts for 2021 compared with 2020 on an uncertain steel demand outlook amid the ongoing Covid-19 pandemic, market sources told Fastmarkets.
Long-term contracts for ferro-vanadium in Europe are usually settled against Fastmarkets' European benchmark price assessment with the parties agreeing a discount to the published price to take prevailing market fundamentals into account.Last year's discounts were agreed at around 5-7% against third-party ferro-vanadium prices, depending on credit terms, volumes and the timing of the negotiations, trading sources said. The discount has been around 5-7% or even in double-digit...