Chinese vanadium prices made their first big move of 2013 during the last week of March — a move to the downside.
Chinese prices for vanadium pentoxide 98 percent fell 6.4 percent in the week ended March 28, according to Metal Pages. The price range fell to between 72,000 and 74,000 renminbi (US$11,608 to $11,931) per metric ton (MT). That's down from a previous 77,000 to 79,000 renminbi ($12,415 to $12,737) per MT.
Traders in China have noted that there will be great uncertainty over demand in the coming months. Once producer told Metal-Pages that the market is “oversupplied against relatively flat domestic demand.”
With nervous sentiment prevailing, some sellers are said to be offering material at discounted prices.End users in the ferrovanadium smelting sector are holding out on new purchases, waiting to see if the market softens further before they lock in supplies, a Metal-Pages report notes. European vanadium prices are faring better, with pentoxide fused-flake 98 percent holding steady at $6.40 to $6.80 per pound. Prices have more or less flatlined since the beginning of the year. Vanadium Market Update (April 10, 2013) from Vanadium Investing News