Now, in mid-September, some market participants expect prices to stabilize with more demand from steel mills in Europe, while others remained pessimistic due to current market headwinds in China.
Fastmarkets’ latest price assessment for ferro-vanadium, basis 78% V min, 1st grade, ddp Western Europe
, was $33.00-35.00 per kg V on Friday September 17. During the past month, the price has decreased by 15.2% from $39.50-40.70 per kg V on August 18.
Over that month, traders have been generally open to lower bids in their attempts to take profit on units bought earlier in the year, when prices were significantly lower. Despite the current downtrend, prices are still 27% higher than they were in September 2020.
“A correction [in the price] is not a surprise to anyone. August has been extremely quiet,” a trader in Europe said. “Many traders have cashflow problems, and they need to...