Ferro-vanadium prices followed a similar trend to ferro-molybdenum prices through late August and September as prices inexplicably edged higher, especially in the European market. The positive correlation, however, was just a coincidence as the ferro-vanadium market is not as liquid as the ferro-molybdenum market. European ferro-vanadium traded at an average $24.61/kg through September, up 4.1% on the August levels but not quite back to $24.85/kg seen in July. The announcement of $150bn stimulus package in China will increase demand for vanadium products as more high-strength steels, such as grade 3 rebar, are required for projects and the intensity of use of vanadium increases. MBR questions the sustainability of the recent rally in steel billet prices, however, and believes it is unlikely to continue without a recovery in the global economy.
展开▼
