FeV collapse exacerbated by sentiment; potentially less gloom on horizon – supplier

The fall in ferro-vanadium prices in Europe may have been perpetuated by bearish trader activity, and it is unlikely there will be any improvement on the cards unless sentiment turns around, according to a supplier.

The view comes in the face of continuing weakness, in spite of ostensibly bullish factors such as the loss of production from troubled South African company Evraz Highveld Steel and Vanadium.
Metal Bulletin’s quotation currently stands at $12.90-13.50 per kg, close to levels last seen in July 2003, a situation exacerbated by an entrenched expectation of further negativity to come, according to the supplier.
“There are traders who are still able to get cheaper material. Small quantities sold on short-term contracts [can move the market],” the supplier said.

“The market is affected by...

Published

Claire Hack

November 17, 2015

17:35 GMT

London