The recent rise in ferro-vanadium and vanadium pentoxide (V2O5) import interest in China will likely add further downward pressure on the Chinese domestic market, market sources told Fastmarkets during the Ferro-alloynet International Vanadium Conference on Tuesday September 10.
Some Chinese domestic traders have turned to importing vanadium products into China, stimulated by the continued wide price spread between the domestic and European markets, which has concurrently made it less competitive to ship Chinese material abroad. Fastmarkets' assessment of the export price for ferro-vanadium, 78% V min, fob China was $35.50-38.50 per kg on September 5, down by 1.3% from $36-39 per kg in the previous week. Meanwhile, the ferro-vanadium 78% V min, 1st grade, ddp Western Europe price was at $30.15-31.10 per kg on September 6, down from the mid-week assessment of $30.60-31.10. This leaves a price gap of $5.35-7.40 per kg between the Chinese...