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[Ferro-Alloys.com]Demand for ferrovanadium within the US market remained firm week-over-week as sources continues to seek spot supplies. Transactions were a bit slower this week, but some sources noted sales slightly above the current range. Several sources remained quite bullish on the market’s direction, pointing to firm fundamentals and steady spot demand. Prices for US FeV are $13-13.50 per lb ? no change compared to the week prior.

Despite the steady price, a sale was concluded just about a partial truckload volume at $13.65 per lb for prompt delivery. Even though the transaction was above the current index range, sources agreed that the price was somewhat premature. “The market is firm, and demand is keeping steady,” said a source, “but I’m not sure material is easily sold above $13.50 [per lb] right now.” In contrast, the European market has been on a subtle decrease as sources agreed that prices have been on a downward move.

Despite the decreases, most sources speculated that the current movement is simply a slight correction as demand keeps steady. Prices for European ferrovanadium material are $25.10-25.60 per kg, compared to $25.5-26 per kg week-over-week. “Overall the market is still quite steady,” said a source. “There is some sales competition, but mostly prices have just come down from the higher levels.”

• [Editor:editer2]