Vanadium prices soar in China and set to break new 13 years...

Vanadium prices soar in China and set to break new 13 years record in Europe

"Metal Bulletin reports that strong vanadium demand in anticipation to the new rebar regulation coming into force in November this year in China has accelerated the recent price increase. Prices were reported at US$115/kg last week compared to US$107/kg a week earlier, a 7.5% increase.

“Domestic consumers and rebar mills are stockpiling and [transaction] prices keep increasing. Exporters prefer to sell in [the] domestic market owing to favorable prices as the uptrend in [the] overseas market [has] lagged behind China,”

an exporter/trader of ferro-vanadium said.

“Our offers will be around $140 [per kg] based on domestic levels, and I know it is hard to accept for foreign buyers but we will not sell at low levels,”

the same exporter said.

In Europe, prices are yet steady, with a modest 1% increase last week but industry participants expects the recent price move in China to have an impact in the near future.

“It seems as though consumers are holding off for a second to digest the recent big price moves,”

a supplier source said.

“If you can find a number from China right now, it is going to be a big one. And that is only if you can find one because they really aren’t offering much if at all for export. They need everything they can get,” another supplier source said.

In the US prices have been tracking the overseas market and stock levels are low. Market participants expect prices to continue to climb in step with the global markets".