Chinese suppliers lowered their vanadium export prices to attract orders following the sharp price rise but thin deals earlier in the month, while European and US vanadium markets maintained their upward trend amid tight supplies there.
Chinese suppliers lowered offers to attract orders. Low availability in Europe and United States supports regional prices. The Chinese vanadium export market reversed gains last week during Metal Bulletin's Asian Ferro-alloys conference which took place on March 20-22, with some delegates concluding deals at the conference at lower values. Metal Bulletin assessed fob China ferro-vanadium prices at $68-70 per kg on Thursday March 22, down by 1.4% from the previous week, while the assessment for vanadium pentoxide was $14-15.5 per lb on the day, a decrease of 4.2% in the same period. "I quoted $69-71 [per kg] for ferro-vanadium one week ago with no spot deals closing at that range, and lowered it to $68 this week to attract deals," a major exporter told Metal Bulletin late last week. A delegate at Metal Bulletin's Asian Ferro-alloys...