LONDON The European ferrovanadium price range widened Sept. 13, but players reported a confused trading environment.
While some participants reported seeing strong prices, others suggested the recent rally could be losing steam.
AMM sister publication Metal Bulletin is quoting 70- to 80-percent ferrovanadium at $26.80 to $27.10 per kilogram, down on the low end from $26.90 to $27.10 per kg. on Sept. 11.
All sources agreed that Chinas domestic prices have been rising and are heading for $29 per kg., although there was no consensus on whether this would filter through to Europe.
"When you dont have any exports from China, the price will go up. I think (the market) is squeezed," one producer said.
On the other hand, one trader pointed to lower numbers in Ukraine as a sign that prices could be weakening in Europe. "I think theres business at (lower) levels. What will be interesting to see is how long the Chinese stay out of the market and whether the world market moves to catch up with them."
Meanwhile, higher prices from Latin America and India could mean levels in Europe will follow suit, a second trader said. "There are inquiries in Mexico and Argentina at $26.90 minimum, so I think its going to be $27. The Indians want $27.10."
Vanadium pentoxide remains flat at $5.55 to $6 per poundon a lack of concluded business, market participants said.
A version of this article was first published in AMM sister publication Metal Bulletin.