South Africa supply fears push Europe vanadium up; China market stabilizes

Market participants' supply concerns amid South Africa’s lockdown pushed vanadium prices up in Europe after Glencore and Bushveld Minerals put their vanadium operations there on care and maintenance.

South African president Cyril Ramaphosa announced the lockdown on Monday March 23, stating it would run from midnight on March 26 until April 16.
In response, Fastmarkets assessed the ferro-vanadium basis 78% V min, 1st grade, ddp Western Europe price at $23-24.95 per kg on Friday April 3, up 5% from the mid-week assessment of $22-23.65 per kg, when prices had increased from $22-23.50 per kg on Friday March 27, in an active spot market.
“Seems like $22 per kg was the key psychological level that suppliers did not want to cross,” a trader in Europe said.
Meanwhile, prompt availability for material has tightened, market sources said.

“Traders...

Published

Ewa Manthey

Amy Lv

April 06, 2020

12:04 GMT

Shanghai, London