GLOBAL VANADIUM WRAP: Chinese export market quiet; European ferro-vanadium price slides on profit-taking
Date: Aug 16, 2018
Chinese vanadium export prices remained largely steady despite limited buying interest, while European ferro-vanadium prices slipped as traders took profits amid the weakened summer spot demand.
- Chinese export prices quiet amid lack of purchasing interest in from European buyers
- European ferro-vanadium market softens on profit taking amid slowed summer demand
- US ferro-vanadium market largely steady as 2019 contract negotiations kick-off
Chinese ferro-vanadium export prices narrowed upward, while the export prices for vanadium pentoxide (V2O5) were roughly stable – in line with domestic market.
Metal Bulletin’s latest price assessment for fob China ferro-vanadium min 78%tightened slightly to $80-85 per kg on Thursday August 9, gaining $1 on the low end compared with the prior week.
“[The] ferro-vanadium export market was relatively quiet as some overseas buyers left for summer holiday and prices dipped in Europe,” one ferro-vanadium exporter said.
That exporter source has been offering material at $84-85 per kg and has not secured any deals in more than two weeks.
“Underpinned by tightness in V2O5, ferro-vanadium prices held firm, but demand in [the] summer is slack,” a second exporter said, adding that he concluded a deal at $83.50 per kg for one container.
“But it is expected that overseas buyers will come back for stockpiling in late August or September, which is likely to be supportive for international ferro-vanadium market going forward,” the second source noted, also suggesting that there is limited space for European ferro-vanadium prices to decline.
Meanwhile, Metal Bulletin’s price quotation for fob China vanadium pentoxide again remained at $18.50-19.30 per Ib on August 9.
