www.ferroalloynet.com: In the week ended Friday July 12, the prices of ferrovanadium in Europe softened and fall below the USD 30 per kg mark. The market continued to trade at its lowest price since June 2017. Meanwhile, the European V2O5 market also fell last week, to its lowest since June 2017. The price of vanadium pentoxide, 98% V2O5 min, in-whs Rotterdam, was $6.20-6.70 per lb on July 12.

The main reason for the price drop dues to the continuously weakening demand and bearish sentiment. “It’s only Europe that is extremely depressed. China and the US are holding up better,” a producer said. For V2O5 market, cheaper offers from suppliers continued to push the price down. “People are getting rid of their material and it is easy to find cheap units,” a trader in Europe said.

www.ferroalloynet.com