Chinese price flatlines ahead of Chinese New Year holiday
European market rebounds on spot demand uptick, tight market
US market resumes strength on continued supply concerns
Few exporters were quoting over the past week because of the approaching Chinese New Year holidays (February 15-21) which meant many domestic companies have closed, including logistic firms.
Metal Bulletin assessed fob China ferro-vanadium prices at $58-60.50 per kg on Thursday February 8, flat on the week before.
“No inquiries came to me, and I have not quoted recently,” an exporter told Metal Bulletin, revealing that he offered $60 one week ago, but no deals have been sealed at this level.
The new steel rebar standard was released by China's Standardization Administration earlier in the week. The standard gives steel mills around eight months to consume existing stocks with lower vanadium content, adjust facilities and get familiar with the new standard which will take effect...