Chinese ferro-vanadium export price drops more than 18% amid weakening domestic market.
European ferro-vanadium, V2O5 prices fall again on weak demand; hit lowest level since October 2017.
US market edges down under pressure from weakening European prices.
The export price for ferro-vanadium in China slumped for the second consecutive week on Thursday May 16, tracking a sharp drop in the domestic market.
Fastmarkets assessed the export price for ferro-vanadium, min 78%, fob China, at $35-39 per kg on Thursday, down 18.7% from $44-47 per kg in the previous week.
The price has dropped by 42.6% year on year from $63-66 per kg at roughly the same time last year and is down by 72.6% from an all-time high of $130-140 per kg reached on October 18, 2018, Fastmarkets historical data shows.