The continued price differential between Chinese and European vanadium prices that sparked interest in exports to China has left inventories in Europe depleted and has eventually sent European prices upward, market sources told Fastmarkets.
Fastmarkets assessed the ferro-vanadium 78% V min, fob China price at $29.50-30.50 per kg on Thursday July 23, unchanged from the previous week, while its assessment for the ferro-vanadium basis 78% V min, 1st grade, ddp Western Europe price climbed 1.9% to $23.25-24.50 per kg on Wednesday July 29 – its highest since June 19.
“The market is tight as the price differential between China and Europe is wide, with China now being at $30 plus, excess material comfortably goes East. Any increase in interest in Europe is bound to send prices up, albeit not so high,” a trader in Europe said.
“There is no shortage, but excess is being taken out to China and related markets,”…
“The market is tight as the price differential between China and Europe is wide, with China now being at $30 plus, excess material comfortably goes East. Any increase in interest in Europe is bound to send prices up, albeit not so high,” a trader in Europe said.
“There is no shortage, but excess is being taken out to China and related markets,”…
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