Evraz Highveld Steel & Vanadium and its Mapochs Mine subsidiary enter business rescue proceedings
, ultimately taking nearly 4,000 tonnes per year (tpy) of vanadium out of the market.
Ferro-vanadium trades as low as $12.75 per kilogram in Europe, according to Metal Bulletin data, the lowest level since December 2003, due to weak demand, oversupply and poor sentiment. At its lowest point, ferro-vanadium has lost nearly 46% of its value since the beginning of that year.
Chinese vanadium producers struggle to procure cheap slag, resulting in closures and upstream tightness. Domestic prices for vanadium pentoxide (V2O5) and ferro-vanadium start to rise.
Sellers in Europe successfully increase their offers in response to low stocks and tight raw material supplies. Sentiment improves and ferro-vanadium prices recover to more than $20 per kg.
November 8, 2016
Negotiations for 2017 supply contracts indicate discounts to...