“Producers are oversupplied and demand from China is slow, with prices there moving aggressively down. The unsold material in China is creating pressure in the market,” a trader in Europe said.
“Too much material has been going to China, and interest in imports has been slowing down,” a second trader in Europe said.
China’s imports of ferro-vanadium totaled 394 tonnes in the first six months of this year, compared with only 92 tonnes imported in the corresponding period of 2019.
And the East Asian country’s imports of vanadium pentoxide (V2O5) totaled 2,140 tonnes in the first six months of 2020, compared with a mere 21 tonnes imported over the same period of last year.
This surge in imports was caused...