Chinese and European ferro-vanadium prices softened last week amid lackluster spot market demand, while the US market held firm under similar conditions.
Chinese market slows as Chinese New Year holidays approachEuropean market slightly softer on sluggish spot demandUS market holds course despite thin trading activityInquiries were thin for fob China vanadium products over the past week, but domestic prices held steady with some market players leaving gradually for the Lunar New Year holiday, which begins February 15.
Metal Bulletin assessed fob China ferro-vanadium prices at $58-60.50 per kg on Thursday February 1, with the low end down by $0.50 and high end unchanged compared with the prior week.
"Domestic prices [of ferro-vanadium] firmly stabilized at 182,000-185,000 yuan ($28,888-29,365) per tonne, with some offers at as high as 190,000 yuan. While the exchange rate of the yuan again the dollar appreciated fast from 6.35 to 6.3 over the past two weeks, after assessing the export cost, we quote a firm offer at $58, but heard offers above $60,...