Ferro-vanadium prices continued to move down last week in Europe and China on weakening consumer demand due to the impact of the Covid-19 pandemic on business operations.
Measures imposed to limit the spread of the coronavirus outside of China continues to pressure China's export price for ferro-vanadium, which ticked down for the second consecutive week on Thursday March 26.
Fastmarkets assessed
ferro-vanadium, 78% V min, fob China at $26-28 per kg on Thursday, down by 1.8% from $26.50-28.50 per kg in the previous week.
There was limited buying interest from abroad for Chinese vanadium products and the price spread of ferro-vanadium between China and Europe widened further.
Fastmarkets assessed the
ferro-vanadium basis 78% V min, 1st grade, ddp Western Europe price at $22-23.50 per kg on Friday, its lowest since the beginning of January and down from the midweek assessment of $22.40-24 per kg when the price had moved down from $23.5-24 per kg.
Fastmarkets' latest assessments leave a price gap of $4-4.50 per kg between Chinese ferro-vanadium...