Prices hold in quiet FeV market
On February 13, 2020 By Alice AgoosIn Uncategorized
The FeV market was quiet in the US and Europe. The few sales done indicate that prices may have peaked in Europe and are consolidating at slightly higher numbers in the US.
Consumer sales were reported at $13.50-13.70 per lb compared to the previous week when the highest sale was at $13.25.
European traders looking to buy are talking about prices under $29 per kg, but inter-trade business was reported at $29.50 per kg. Consumer continues to be booked at right around $30 per kg.
Many consumers have inventory and are assessing their needs, assuming the longer they wait the better off they will be, one source said. “Really, it is only a matter of time until one of the larger suppliers has material to unload,” he added.
Vanadium prices are moving upwards slowly in China, sources said. By some accounts V2O5 prices are at $7 per lb. Most stone coal producers are shut, but that has been the case even before the coronavirus. The large vanadium producers reportedly are operating.
The big unknown is how the coronavirus is affecting steel production. Steel stocks are building because of logistical problems, sources say, but it is not clear whether mills have had to cut production in response to the coronavirus.