Chinese ferro-vanadium exporters continued to raise their offer levels last week after prices were bolstered by strength in the country's domestic market, while the European ferro-vanadium market tumbled amid sluggish spot activity.
Chinese exporters increase offers following domestic market strength European FeV market softens on weak spot demand European V2O5 flat amid limited trading activity US FeV prices hold, market absent of activityFastmarkets assessed the export price for ferro-vanadium, min 78%, fob China, at $74-76 per kg on February 21, up by 3.1% from $70.50-75 per kg a week earlier.Many Chinese ferro-vanadium exporters raised their offer prices last week despite sparse inquiries from abroad after realizing that equivalent prices in the domestic spot market were close to or in some instances had even surpassed their export levels, Fastmarkets understands."It's really strange that we did not receive many inquiries this week since there should be a round of restocking from overseas market after the week-long Lunar New Year holiday (February 4-10). But there is no way for us to surrender too much on our offer price due to the appreciation in the...