GLOBAL VANADIUM WRAP: Chinese exporters lower vanadium offers; EU market steadies amid inactivity
Date: May 9, 2018
Chinese ferro-vanadium and vanadium pentoxide (V2O5) offers softened on limited export activity this past week, while the European markets were stagnant on a lack of spot market demand.
- Chinese vanadium export activity limited, offering prices slide
- European vanadium markets inactive, prices flat
- US ferro-vanadium spot market activity picks up, prices narrow
The Chinese ferro-vanadium export market saw a pickup in activity this past week, but the V2O5 export market remained quiet.
Metal Bulletin assessed the price for fob China ferro-vanadium min 78% at $65-69 per kg on Thursday May 3, compared with an assessed price of $66-69 per kg a week earlier.
“I closed one container of the cargo at $65.80 per kg [on April 27] and am offering at $66.50-67,” a major exporter told Metal Bulletin.
“Domestic demand has improved and I have received around 20 inquiries for vanadium nitride from rebar producers, so I am optimistic about the [Chinese] market going forward,” the above source added.
A second vanadium exporter also noted a recovery in demand from the rebar industry, prompting him to quote at the higher end of Metal Bulletin’s assessed range.
“I am quoting at $68-69 per kg… and [I am] refusing any bids below these levels,” the second exporter told Metal Bulletin.
Metal Bulletin’s price quotation for fob China V2O5 was $14.40-14.90 per Ib on May 3, down from $14.40-15.10 per lb in the prior week.
“V2O5 export market was very quiet, though there were offers at $15.40-15.60 [per lb], the tradeable level is ranging from $14.40-14.90,” a third exporter said.
European vanadium markets stagnant, prices flat
In Europe, the ferro-vanadium was stagnant last week due to a lack of trading activity over the period.
Metal Bulletin assessed the spot price for ferro-vanadium delivered duty-paid in Europe at $68-69.50 per kg on May 4, a level it has maintained since April 27.
Activity in the market was slow at the start of last week due to the holidays, and it failed to pick up momentum throughout the rest of the week.
The spot market saw limited demand last week, with prices holding steady on predominantly small-volume transactions.
With consumers largely absent from the market last week, market participants were unable to gain clarity on the direction of pricing.
