www.ferroalloynet.com: According to the European market report on Friday, due to the demand of some buyers for replenishment of inventory and the increase of inquiries for the spot market, the price of ferrovanadium in European market slightly increased to 22.5-24 USD/KgV, convert into 50# ferrovanadium was 77,800-83,000 Yuan/ton, and the spot price of some traders was as high as 24.5 USD/KgV. The price of the downstream alloy rose, which led to a slight increase in the price of vanadium pentoxide to 4.9-6 USD/LB V2O5, convert into V2O5 98% was 73,200-89,700 Yuan/ton; the price of ferrovanadium in United States was 10.45-10.75 USD/LB V, temporarily stable, convert into 50# ferrovanadium was 79,700-82,000 Yuan/ton. Today’s exchange rate is USD: RMB = 6.9192:1.
In recent days, domestic vanadium market has been relatively calm with few inquiries. Logistics will be shut down near the Spring Festival. The upstream and downstream shipment and stock up have been basically completed. Near the Spring Festival, most manufacturers produce based on their orders, and the vanadium market fluctuated slightly. With the slight increase in European prices, it may have a negative impact on the future import market.
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