New York, Hong Kong-US ferrovanadium prices firmed again last week to 26.25-27.25/lb dollars from 26-27 dollars on a steady flow of spot sales and limited supply, supplier and consumer sources agreed. In China, ferrovanadium prices surged to 55-57/kg dollars. By week's end, a US producer was said to be in a bidding battle for minimill business, with quotes as high as 30/lb dollars. A different producer source suggested 30 dollars was off the mark and may have been the result of suppliers squeezing a mill in desperate need of metal with nowhere to turn. The producer in the bidding battle posted truckload sales last week of 27.25 dollars and 26.95 dollars, and no one disputed business being done at that level. "There's very little material for the spot market," the producer said, "I'm tight [on supply] this month and I'll be tight in March. I've had a good month of sales in February."
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