The global vanadium market weakened further last week because of lackluster consumer interest and persistently poor sentiment.
The export price of ferro-vanadium in China dropped again on Thursday October 24 after some exporters lowered their expectations about the tradeable price in response to the significant drop in the domestic market.Fastmarkets assessed the export price of ferro-vanadium, 78% V min, fob China at $32.50-35 per kg on October 17, down by 3.6% from $33.50-36.50 per kg a week earlier.No overseas buying interest for ferro-vanadium in China was recorded over the past week due to the Chinese price being much higher than elsewhere.Fastmarkets' latest price assessment of the ferro-vanadium price leaves a differential of $12-12.90 per kg between China and Europe. The recent weakness in the domestic market has unavoidably resulted in the price softening in the export market, market participants said.The Chinese domestic ferro-vanadium price dropped drastically after the few mills that entered the market for procurement made aggressive bids."Very few deals concluded this week because it seems...