China’s vanadium prices show signs of strength amid pre-Labor Day restocking by steel mills
Chinese vanadium product prices, including ferro-vanadium and vanadium nitrogen - have strengthened since the second half of last week, with steel mills restocking ahead of the Labor Day holiday, sources told Fastmarkets on Monday April 27.
The final purchase prices were higher than the level seen a week earlier because alloy plants refused to lower their prices despite a lack of demand, to prevent further losses because of sliding alloy prices and stable raw materials costs
, market sources said.
“This is normal because mills need to restock [alloy products] in advance of Labor Day [on May 1-5] to maintain production during the holiday period. They had been inactive in the vanadium market for a while [but now] is the time to stockpile,” a...