China’s ferro-vanadium export price continued to soften in the week ended Friday November 8 amid persistently weak buying interest from abroad and a continual decline in the domestic market.
Fastmarkets assessed the price of ferro-vanadium, 78% V min, fob China
at $26.50-28.50 per kg on November 7, down by 8.3% from $29-31 per kg a week earlier.
The persistent drop in the Chinese price over the past few weeks has seen an obvious narrowing in the price gap between China and Europe, which has stifled some Chinese market participants’ interest in importing cargoes.
The price differential between China and Europe has narrowed to $5.90-6.90 per kg from $8.80-10.50 per kg in early October, according to Fastmarkets’ latest price assessments.
“The price difference [of ferro-vanadium] between China and Europe is much smaller. And I believe those who showed interest in importing vanadium products...