NEW YORK Ferrovanadium prices have ticked up slightly on reports of tightening supply, while molybdic oxide and ferromolybdenum prices dropped further.
Ferrovanadium prices rose to a range of $14.50 to $15.20 per pound from $14 to $15 per pound previously.
One trader told AMM that a major consumer had purchased 20,000 pounds of material at $15.20 per pound, suggesting that a shortage of material led to a willingness to transact at higher prices.
"Id say the market is a little bit more balanced towards a deficit in supply," he said.
Meanwhile, canned molybdic oxide slipped to a range of $11 to $11.30 per pound from $11.15 to $11.40 previously, while ferromolybdenum moved down to a range of $12.40 to $12.65 per pound from $12.50 to $12.75.
"Its modestly weaker, theres still no spot business," one producer said.