GLOBAL VANADIUM WRAP: Chinese export prices continue to decline on thin trading; European market follows downward
Date: May 23, 2018
Chinese vanadium export prices continued to register declines after exporters lowered their offers in order to drum up buying interest, while European vanadium prices again followed the downtrend in the Chinese market.
- Chinese export prices soften on thin trading
- European vanadium prices remain under pressure amid profit-taking
- US FeV market grinds to a halt, prices flat
The Chinese vanadium export market was quiet in the week ended Friday May 18, with prices softening amid thin spot activity.
Metal Bulletin assessed the fob China ferro-vanadium min 78% price at $63-66 per kg on May 17, slightly down from the prior week’s assessed price of $64-66 per kg.
“Sentiment in the export market is not good with the sluggish demand and lower bids… I have lowered my offers to $65 [per kg] from around $68-69 a week ago,” a ferro-vanadium exporter said.
A second ferro-vanadium exporter agreed that demand from the ex-China market remains feeble.
“I am offering $63, down from last week’s $64, but no deals have been concluded in the past two weeks,” the second exporter said.
Metal Bulletin assessed the fob China vanadium pentoxide export price at $14.30-14.80 per Ib on May 17, down from $14.40-15.30 per lb in the prior week.
Demand for Chinese vanadium pentoxide was similarly slack last week, with participants reporting few deals concluded.
“I sold one batch to South Korea a week ago at $15.30 [per lb] and concluded another deal at $14.60 with a Brazilian buyer this week,” one V2O5 exporter told Metal Bulletin.
“Owing to the price decline in Europe, buying interest from there is not high, but domestic supply is tight, and prices are holding firm, so I am quoting $14.80,” the above V2O5 exporter added.
The European ferro-vanadium market weakened last week, with traders once again unloading material at lower prices in order to protect against further losses.
