Fastmarkets last assessed the ferro-vanadium basis 78% V min, 1st grade, ddp Western Europe
at $24.80-26.20 per kg on Friday January 17 - the strongest it has been since it traded at $26-27 per kg in early October 2019 - and up from the mid-week assessment of $23.70-25.95 per kg, when prices had increased from $22.50-24 per kg. Prices have now risen for four consecutive pricing sessions.
"Offers keep moving, there is no cheap material around. We might see another push up in prices in the coming week," a trader in Europe said.
"The push higher is not only trader-led, end users are also looking for material," a supplier said. "There’s not that much material available here for spot."
Vanadium prices in Europe plummeted over 60% last year after hitting all-time highs in the second half of 2018. Prices had soared because of an anticipated increase...