European ferro-vanadium market stalls; US market catches up
Date: Oct 3, 2018
The European ferro-vanadium market stalled last week as consumers continued to sit on the sidelines, while US ferro-vanadium prices soared as the market continued to catch up to the sharp increases seen earlier in Europe.
Spot prices for European ferro-vanadium were $101-105 per kg on Friday September 28, up 15 cents on the low end from $100.85-105 per kg delivered duty-paid in Europe during the mid-week assessment, according to Metal Bulletin.
The marginal move upward re-established prices at more than 13-year highs set on September 21, with prices last residing at current levels on June 6, 2005.
Prior to last week’s quiet close to September, prices had been on a meteoric rise during the month, increasing 27.6{3a701354f219a57e7e7d46a505b70225e975b940de2dd07556e20488ab77339d} from August 31 to September 21.
A lack of consistent consumer demand stunted further price growth during the period.
“There really aren’t any consumers in the market at the moment, so the market has kind of stalled for now,” a supplier source said.
Said a second supplier source: “I think we have to wait for a few inquiries to arrive from Europe before we know whether prices will continue to run at this point.”
Despite the lack of spot market interest from consumers, the market remains supported by a lack of availability in Europe.
