FeV prices stalling/going up: A matter of perspective

“European FeV prices are stuck at $112-115 per kg and there are more sellers than buyers.”

“European FeV prices are over $110 and fast approaching $120.”

“FeV sales have been done in Europe and Asia (excluding China) at $116-118 per kg. No V2O5 sales are taking place because the spread between V2O5 and FeV prices is too large and it is too risky to buy V2O5.”

“FeV prices are $120 in Europe and $130 in China. Sales of V2O5 in China were booked at $29 per lb.”

“Business was done in the US at $48.50-49 per lb for less than truckload quantities.”

“A US consumer paid $51 per lb for a truckload of 80% FeV.”

Pity the price reporter that has to make sense of the above information. One thing is clear. Any seller holding FeV is quoting high prices, and traders looking to buy say the market is taking a breather.

Despite price disagreements, there is consensus on the market outlook. No one seems to think that prices will retreat any time soon. Supply constraints, robust demand and the imposition of new rebar standards in China on Nov. 1 have combined to push prices upward. “There is no doubt that some Chinese rebar manufacturers have increased vanadium purchases in advance of the regulations taking effect,” said a supplier.

For all their bravado, sellers are carefully watching for any signs of a price decline. “No one wants to be caught holding the bag,” said a trader. Even seasoned suppliers acknowledge that prices will eventually correct and are looking to 2019 prices of $70-80 per kg.

After due consideration, intherightvein.com pegs FeV prices at: $115-118 per kg in Europe, $125-127 per kg in China, and $49.50-50.50 per lb in the US.

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Renato Tichauer

agree with your assessment in Europe. One trader sold this week 5mt at lower price and all buyers are – of course – mentioning that deal and trying to talk prices down.