Date: Oct 16, 2017
Ferro-vanadium and vanadium pentoxide prices continued to decline across global locations last week, as a notable recovery in demand evaded the market and the Chinese yuan strengthened.
Chinese sellers cut export offers as domestic demand fails to recover after Golden Week holidays (October 2-8), supported by exchange rate fluctuations. Profit-taking and weak demand pushed prices down in Europe and the USA. Market sources anticipate the market bottoming out as declines slow and cheap stocks filter through. Export prices for Chinese ferro-vanadium and vanadium pentoxide (V2O5) fell last week because the domestic market weakened after the Golden Week holidays, and export-friendly currency moves meant lower offer prices. Metal Bulletin assessed ferro-vanadium prices at $35.50-36.40 per kg, fob China, on Thursday October 12, steeply down 11% from the level before the Golden Week, Chinese V2O5 prices were assessed at $8-8.40 per Ib, fob, also on Thursday, a sharp decrease of 12.8% from the previous assessment at the end of September. In China’s domestic market, V2O5 prices fell by 10,000 yuan per tonne in compared with the end of…
