NEW YORK Ferrovanadium
prices have steadied at levels above $15 per pound as traders
play down the potential impact of more material being shipped
into the domestic market from Atlantic Ltd.s Windimurra
Mine in Australia.
Ferrovanadium narrowed to a
range of $15 to $15.15 per pound this past week from $14.50 to
$15.20 per pound previously.
"Theres good demand,
contract offtake is good, so there are no problems there," one
trader said. "With the spot sales being made, its nice to
see them in the truckload category rather than just pallet
"We think the market is
fundamentally somewhere between balanced to a slight deficit,
so we should be seeing prices come up a bit," he added.
Traders contacted by
AMM said they had yet to see any meaningful impact so
far in 2013 from Atlantics Windimurra ramp-up, with the
companys monthly sales report indicating no vanadium
sales in February.
Eventually, however, "that
operation is definitely going to impact the U.S. market, like
any new player in a market," a second trader acknowledged.
"To my knowledge, there hasnt been a significant
amount coming in so far," the first trader said. "And I think
the people that sell it are sensible with respect to price, so
Id be surprised if they tried to sell the little they
have at silly prices to gain a quicker entry to the