European ferro-vanadium market resumes downtrend amid weak spot demand

European ferro-vanadium prices weakened last week on quiet spot demand, with the market’s attention still focused on long-term contract negotiations which are taking place later than usual this year, sources said.

Fastmarkets’ price assessment for ferro-vanadium basis 78% V min, 1st grade, ddp Western Europe, dropped to $22.95-23.40 on Friday December 6, from the mid-week assessment of $22.95-23.50 per kg, when prices fell from $23-23.80 per kg after two consecutive weeks of stability.
“European demand remains low with producers struggling to sell material to the same customers,” a trader in Europe said. “With the steel market still struggling and the automotive sector under pressure, there is no upside for prices in sight.”
Meanwhile, the Chinese export price of ferro-vanadium was stable in the latest assessment period ended on Thursday December 5 amid a lack of liquidity.

Fastmarkets’ assessment for ferro-vanadium,...

Published

Ewa Manthey

Amy Lv

December 09, 2019

13:29 GMT

Shanghai, London