Vanadium price, page-40

Yes when supply and demand at any time frame meet and equilibrium reached is called the ‘ price”.
Time frame is important esp in commodities because they are indicators of economic cycles, so we get so called commodity cycles.
Many participants in these markets understand this and try to avoid this through long term fixed price contracts, however when volatility enters a market ( mostly through trade, government policy change ie in wartime ,technological change). these LT contracts are ditched. Vanadium is a obvious example of this.
Other factors then have affect. For example after the big vanadium price rises ,steel mills started shifting to hot rolled coil instead of longbar( rebar) because their profitability was better.
This is fine if social stocks( rebar in the marketplace), or mills stockpiles are high, however this is not the case.
Latest December figures from the mills in the major Tangshan and Xuzhou steel regions have stocks of rebar at -5 and -13% down same time last year. The major comment from traders being construction demands after CNY will determine the price in the near term.
So I’m with you with a $25 98% flake price by Easter and interesting to see where it’ll settle for the rest of 2019.