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After gaining some upward momentum for three consecutive weeks, export prices for ferro-vanadium in China stagnated last week amid low levels of trading activity.
Fastmarkets assessed the export price for ferro-vanadium, min 78%, fob China, at $35-37 per kg on June 20, unchanged from the previous week.
Some Chinese ferro-vanadium exporters cited relatively high production costs as the main reason for holding their offer prices firm despite thin buying interest from abroad.
“We know our offer price is hard to achieve [in the export market] this week, but we cannot lower it any further because our costs are there,” a Chinese ferro-vanadium exporter told Fastmarkets on June 20.
Meanwhile, a few ferro-vanadium exporters in China held back from offering into the...