GLOBAL VANADIUM WRAP: Lower Chinese export offers pressure overseas markets
Date: Oct 31, 2017
Global ferro-vanadium prices have come under pressure following lower offers from Chinese exporters.
• Chinese sellers cut export offers with prices under pressure in the domestic market • Ferro-vanadium and V2O5 prices continue to diverge in Europe. • US ferro-vanadium prices consolidate; further short-term weakness expected Chinese export prices for ferro-vanadium and V2O5 continued to fall last week, though market participants indicated resistance to further declines. Metal Bulletin’s assessment for Chinese ferro-vanadium came in at $31-34.75 per kg, fob China, on Thursday October 26, down from $35-36 a week earlier. Several exporters have declined to cut their offers in the export market, since they can achieve higher prices in the domestic market. Prices were indicated at 115,000 yuan ($17,294) per tonne in the domestic market last week, with sellers matching their offers in the export market. “The market saw several hundreds of tonnes of ferro-vanadium tenders from steel mills [in mid-October] and some other tenders are expected at the end of the month, so…
