www.ferroalloynet.com: According to data released yesterday, European ferrovanadium price dropped to USD 32.5 (↓2.5)-35(↓1)/kg vanadium, lowered by about CNY 6250/t compared with last Friday, and the price of 50# ferrovanadium was about CNY 112,200(↓8,800)-120,800(↓37,00/t. The European market price for vanadium pentoxide was about USD 7.2-7.5/lb vanadium pentoxide, temporarily stable. The price of 98% vanadium pentoxide was about CNY 107,400-111,900/t. The market price of American ferrovanadium was USD 21-22/lb, keeping stable.
Due to the domestic steel bidding price continues to drop today, pull down the domestic mainstream transaction price. Yesterday, the lowest steel bidding price of ferrovanadium is CNY 115,000/t by acceptance. According to some traders, the international market is facing double pressures of increasing supply and weak demand. Vanadium prices still have downward space. In the short term, the trend of vanadium market is still not optimistic under the situation that both internal and external markets are weak.
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