[ferro-alloys.com] Ferro-vanadium is trading at a four-year high in Europe amid tight nearby supplies and upstream tightness, but market participants expressed concerns over incoming deliveries of ferro-molybdenum on Wednesday April 12.

Ferro-vanadium prices assessed by Metal Bulletin gained $0.20 and $0.30 per kg on the low and high ends of the range respectively midweek, now quoted at $27.40-28.50 per kg, delivered duty-paid in Europe. 

Spot prices are now at their highest since April 2013 and have shown continued strength since upstream supply issues emerged in October, when prices were languishing in the $18s. 

"The market’s only going in one direction; there’s not much prompt material available and replacement costs from China are high," one trader told Metal Bulletin, indicating offers for duty-unpaid material from China at $28.50 per kg. 
"We are quite well booked so there’s no need to offer cheap and someone might bite," a second trader said, adding that he was responding to enquiries with offers at $29. 

Furthermore, consumer demand for ferro-vanadium units is steady, with very little material passing from trader to trader. 

"The momentum is still there; we’re in talks with end customers so the material isn’t piling up with the trade," a producer said. 

Prices have been steady for the past week and market sources are cautious of profit taking in the coming weeks. 

• [Editor:Wang Linyan]