China exported about 344 tonnes of ferro-vanadium (basis 75% vanadium) in April, marking a decrease of 28% month on month and 53.5% year on year, according to official, but unconfirmed, data seen by Fastmarkets MB.
The drop in ferro-vanadium export volumes in April was said to be due to a lack of buying interest from the ex-China market due to the wide price gap between the Chinese and European markets during the month, according to market participants.
Fastmarkets MB’s weekly export price assessment for ferro-vanadium, min 78%, fob China, averaged $53.06 per kg in April, while the twice-weekly assessment for ferro-vanadium, 78% min, delivered duty-paid in Europe averaged $46 per kg over the same month.
“We had barely received any inquiries [for ferro-vanadium] from abroad since April because the price difference between both markets was too wide with the Chinese price obviously higher than that in the European market,” a Chinese market source said.
The price differential between the Chinese and European markets has greatly narrowed following the significantly drop seen in the Chinese domestic market after the May Day holiday (May 1-4), Fastmarkets MB understands.
Fastmarkets MB most recently assessed the export price ferro-vanadium, min 78%, fob China, at $33-36 per kg on Thursday May 23, while the price in Europe was last assessed at $32.15-36 per kg on May 24.
China’s exports for ferro-vanadium totaled 1,999 tonnes in the first four months of 2019, a drop of 5.2% from the 2,109 tonnes shipped in the corresponding period of last year.
