GLOBAL VANADIUM WRAP: European, US ferro-vanadium prices slump on sluggish spot demand
Date: Mar 5, 2019
Chinese exporters kept their offer prices for vanadium unchanged in the week ended Friday March 1 amid a lack of foreign buying interest, while European and US ferro-vanadium prices tumbled on sluggish spot market demand.
- Chinese exporters maintain offer levels despite lack of buying interest
- European ferro-vanadium market slips on inactivity
- European V2O5 price flat, market dormant
- US ferro-vanadium price slumps on lackluster demand spot demand, lower foreign prices
Export prices for ferro-vanadium in China were unchanged last week after exporters maintained their previous offer levels despite a lack of buying interest from abroad.
Fastmarkets’ export price assessment for ferro-vanadium, min 78%, fob China, stood at $74-76 per kg on February 28, unchanged from a week ago.
Offers made by some ferro-vanadium exporters in China failed to capture any real buying interest last week, but these exporters were still resistant to lowering their offer levels due to the recent yuan appreciation and the stable ferro-vanadium prices in the Chinese domestic market.
“We received a number of inquiries and gave them our offer prices but we haven’t been replied by anyone so far. I feel instead of having the real interest in buying, their inquiries are more of a test for where the market stands at now,” a Chinese ferro-vanadium exporter said. “We will not cut our price much, however, especially when we do not have much stock pressure.”
Meanwhile, several Chinese ferro-vanadium exporters stopped offering their material to the market last week on noticing the soft demand from foreign buyers.
