The upward trajectory in European ferro-vanadium prices ended in the last week of May, and prices have fallen through June. European ferro-vanadium prices have dropped 2.1% from trading in a range of $26.70-27.70/kg in May to a range of $25.60-27.20/kg in June. US ferro-vanadium prices also fell in the final week of May, after surging through April and May. There was a slight readjustment as prices picked up in the second week of June, but since then they have plateaued. Thus, average prices in June have been 4.2% lower than May's average trading range. We have maintained our price forecast, and expect prices to remain stable quarter-on-quarter in the third quarter of the year, with the next uplift in prices forecast for the fourth quarter.
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