The export price of ferro-vanadium in China plunged in the latest assessment period on Thursday October 31 following a significant price drop in the domestic market.
Fastmarkets assessed the price of ferro-vanadium, 78% V min, fob China
at $29-31 per kg on October 31, down by 11.1% from $32.50-35 per kg a week earlier. The price has dropped by 18.9% since October 3, when it was assessed at $35.50-38.50 per kg.
Inquiries from abroad were scant due to weak demand there as well as the falling Chinese price - foreign buyers usually do not place orders from China while the price there is declining, market sources said.
“We only received one inquiry from Europe but that was for fixing the price of a long-term contract for the total volume in the whole of 2020," a Chinese ferro-vanadium exporter told Fastmarkets on October 31. “Who knows what...