Chinese exporters continued to aggressively slash offer prices in response to sparse buying interest amid weak domestic demand, while European ferro-vanadium prices followed the move down.
Chinese exporters cut offering prices amid weak domestic demand European FeV market plummets after taking its cue from the weakening Chinese market European V2O5 flat amid illiquidity, further downward pressure looms US FeV market continues to slide at slower rate amid illiquidity supply consolidationChinese ferro-vanadium export prices continued on the downward trajectory in the latest pricing period ending Thursday December 13, with Chinese traders cutting their offer prices further to attract overseas buyers amid the continuously sharp decline in China's domestic market on subdued demand.Fastmarkets' price assessment for ferro-vanadium, fob China, fell to $80-90 per kg on Thursday, down 19.4% from $103-108 per kg a week before."We lowered our offer to $100 per kg [last week] but buyers were still reluctant to accept our prices. Therefore, we have no deals concluded in the past week," a Chinese ferro-alloy smelter, who offered at around $108 per kg previously, told Fastmarkets.Some...