www.ferroalloynet.com: The European market has been strong in recent two weeks. As of last Friday, the price of V2O5 in the European market started to rise and that of ferrovanadium edged up synchronously. As of last Friday, the price of European ferrovanadium keeps at USD 23(↑)-23.75/kg vanadium, converting to 50# ferrovanadium is about CNY 80,600(↑3,300)-83,200/t. The European market price for vanadium pentoxide has risen to USD 5(↑0.55)-6.05(↑1.05)/lb vanadium pentoxide, keeping stable, converting to 98% vanadium pentoxide is about CNY 75,600(↑8,200)-91,600(↑15,700)/t. The price of American ferrovanadium drops again, which is USD 10.15-10.7(↑0.2)/ lb.
According to traders, the increase of low-cost purchases in European market is one of the reasons for the price rise. It is expected that the procurement will increase gradually during the period of price rise. The international market continues to provide confidence for the domestic vanadium market, and the short-term market is still strong.
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