FOCUS: Tight prompt supply, more consumer activity boost vanadium uptrend; alloy at 1-yr high

The uptrend in European vanadium prices continued to accelerate at the beginning of February while end-user demand increased amid tight prompt supplies, sources told Fastmarkets.

Fastmarkets' assessment for the ferro-vanadium basis 78% V min, 1st grade, ddp Western Europe price was at $28.25-29.50 per kg on Friday February 5, up 2.2% from the midweek assessment of $28-28.50 per kg, when prices had moved to that level from $27.30-28 per kg on January 29.
The market is now trading at its highest since the end of February 2020, when prices traded at $27.50-29.95 per kg.
Spot market activity for both the alloy and oxide markets has picked up in the past few weeks with end-users coming in with larger volume inquiries, market sources said.

"Producers are tight, traders don't have stock and end-users are actively...

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