www.ferroalloynet.com: According to the latest data, On May 24, spot prices for European ferrovanadium rose to USD 32.15-36/kg, up 1% from USD 32.50-35/kg as assessed in the midweek of May 22. As of last week’s close, the prices of many deals had reached new highs. This latest upward trend also marks a significant shift in negative sentiment in the market over a period of time.
The main reason for the price rise is the increasing interest in buying in the spot market. In addition to that, market participants mentioned trader inventories had finally run thin. “They have been trying to cover back in,” a European supplier source said. Therefore, market participants are optimistic about the recent improved situation and have more confidence in their offering prices.
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