Ferrovanadium prices have weakened as sellers aggressively
chase spot sales amid relatively stale demand.
to a range of $11.20 to $12.20 per pound from $12.50 to $13
encountered "very aggressive" bidding recently after putting in
a request for quotation for several truckloads. "I think there
are a few people really looking to move some material," he
said. "I think its just a slow market and people have
One trader agreed that
bids had dropped "well below $12 per pound for full-truck
quantities," with spot sales above $12.20 limited to smaller
quantities. "Last week we saw some spot inquiries and I think
prices were very aggressive," he said. "The U.S. market remains
a bit confused, with some anxious sellers and mostly
However, traders said
that rising ferrovanadium prices in Europe likely would filter
through to the North American market.
"I think the U.S.
market always follows the rest of the world as we are net
importers. The same can be said of Europe, where the price
follows China," the first trader said. "Both Chinese and
European prices have turned up, and I can only believe that the
North American market will do the same shortly."
"The vanadium price in
Europe has come up, so I think theres a little more
optimism right now," a second trader said.
A third trader said
that while spot trading activity remains infrequent, his
companys contract volumes have been at their best level