Ferrovanadium prices continued to hold at a 10-year high in Europe, though market participants said cracks were starting to appear due to the lack of buying interest.
One European trader said he had received no response from offers of $42/kg and was not receiving many inquiries, adding prices could come off because "there is too much material bought at low numbers in the hands of traders".
A second European trader said he had received an inquiry at the start of the week but the buyer had told him he would wait to buy as there were plenty of offers. "Nobody is buying. Prices will come down," he said.
Inquiries were reported for September and October but for one or two containers. "There is always an end to the party," a third European trader said.
S&P Global Platts assessed the European ferrovanadium price at $41-$43/kg in warehouse Rotterdam, unchanged week on week.
