China market sluggish after holiday, prices steady
Tightness in European market bolsters prices once again
US market continues to strengthen on thin supply
Chinese vanadium participants were slow in returning to the market following the weeklong Lunar New Year break (February 15-21), with many choosing to adopt and wait-and-see approach to gauge how international markets had progressed in China’s absence before deciding their next step.
Therefore with limited trade activity over the past week, Metal Bulletin’s price quotations for fob China ferro-vanadium and vanadium pentoxide were unchanged at $58-60.50 per kg and $13-13.60 per Ib respectively on Thursday February 22.
But with prices in international markets likely to continue their recent upward trend and the export arbitrage window opening for Chinese exporters, market sources told Metal Bulletin they expect a near-term recovery in China’s export market.
“We may raise the export offers. Buyers accepting higher...