European ferrovanadium prices were unchanged on the week as market participants said Asian holidays hampered trade.
One European trader said he was reluctant to conclude business with no offers of replacement material from China, but had heard of deals at $18.50/kg DDP. "With China closed, traders can only guess and try to move units."
Others said they "remain on pause" with indications of more material coming into Europe from Russia as well as good production rates from Western producers.
"All this year China was tight, giving a buy signal but now it is still tight but Western markets look to have enough material," a second European trader said.
Deals were reported at $18.40/kg duty unpaid for 10 mt while a producer said delivered prices were at $18.75-$19.00/kg. Traders in Europe said they were waiting for Chinese markets to open before resuming business, following the week-long National Day holiday, although they added the market was also fairly quiet.
Platts assessed its weekly European ferrovanadium price on Thursday at $18.30-$18.70/kg.
