NEW YORK Ferrovanadium
prices have risen again in the U.S. market, prompted by what
some say is a tightening of global supply.
"The prices that have a 12 in
front of them are over," one market source said.
Spot prices are now between $13
and $13.50 per pound, up from $12.50 to $13.50 previously, with
inter-trade business for small volumes reported at both ends of
the range. A Midwest steelmaker reportedly bought a truckload
of material at around $13.50 per pound in the past week.
Sources said the rise in prices
comes at a time of global tightness for vanadium due to
increased usage in China, which is the result of the
enforcement of legislation mandating more vanadium content in
amm.com, Dec. 7), as well as some tightness in
spot material at large producers.
In Europe, prices have risen to
$31.50 to $32.50 per kilogram ($14.29 to $14.74 per pound) as a
result, and some expect the U.S. market will move to similar
levels in the near future.
"The people that were calling
for ferrovanadium at $15 per pound last year may finally be
right," one trader said.
One consumer source, however,
questioned whether the global situation would affect domestic
prices. "The ferrovanadium market is always said to be tight,
but in the end everybody always seems to be able to get
material," he said.