Ferro-vanadium prices in the USA declined sharply through November, while European prices trended lower, but only marginally. With demand slipping, traders, who normally charge a premium for smaller quantities, have to accept lower and lower prices. Trades have been declining in size throughout the month with some of just three, four or five tonnes the usual amount, well below the usual 20 tonnes deliveries. The lack of demand is meaning that smaller steel mills are unable to compete with their larger partners who are buying on a hand-to-mouth basis and who are able to undercut them. In the USA, the expected seasonal slowdown in steel production is weighing on vanadium prices and buyers are remaining on the sidelines.
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