China’s export price for ferro-vanadium gained some upward momentum on Thursday November 14, underpinned by the strength seen in both the domestic and international markets last week.
Fastmarkets assessed the price of ferro-vanadium, 78% V min, fob China
at $28-30 per kg on November 14, up by 5.5% from $26.50-28.50 per kg in the previous week.
This is the first increase since late July when the price trended upward amid growing demand from Chinese steel mills
, some of which had never bought vanadium products before, stockpiled certain volumes in preparation for the quality check on rebar in some regions at the time.
The ferro-vanadium export market in China remained quiet last week with sparse buying interest captured from abroad.
“We still did not receive any inquiries from abroad despite the recent narrowing of price gap between China and Europe,” a Chinese ferro-vanadium exporter said.