NEW YORK — Spot ferrovanadium prices have ticked up slightly on reports of short-term tightness in supply, although market sources say contract business is continuing to satisfy most consumers.

The ferrovanadium price range widened to $14 to $15 per pound from $14 to $14.90 previously, with reports of truckload business conducted at the upper end of the range.

"Vanadium is definitely going up. I think there’s some short-term tightness out there," one trader said.

However, one consumer told AMM that he had been offered ferrovanadium at "below $14 per pound" but refused the offer as his company is still satisfied by its contracted supply.

A second trader, who said he had sold 10,000 pounds at $14.90 per pound, agreed that "the contract market is holding up."