In October, European ferro-vanadium prices fell as market participants and traders were keen to sell material before the end of the year. Prices looked to be heading to levels which could have made it difficult for producers to turn a profit. Prices have been rising, however, since the beginning of November due to a more balanced market, which has left little supply remaining on the spot market. Thus, MBR maintains the view that prices will hold stable-to-higher over the remainder of the year, and rise further in 2014. The one risk to the downside is Chinese exporters. They are not now exporting large quantities, but if they return to the market, this could push European prices lower.
展开▼
