Chinese exporters slash offers to promote buying interest
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Chinese ferro-vanadium export prices dropped significantly in the pricing week ending on Thursday December 6, with Chinese traders slashing their offer prices in an attempt to promote sales after noticing a lack of buying interest from markets overseas.
Fastmarkets’ price assessment for ferro-vanadium, fob China, fell to $103-108 per kg on Thursday, down 14.4% from $119-127.50 per kg a week ago and down 21.9% from the historical high of $130-140 per kg reached on October 18.
A Chinese ferro-alloy smelter, who had offered at a price above $120 per kg previously, lowered the offer price to $106-108 per kg in the past week.
“We don’t want to cut our price so much but we have no choice...