Vanadium Market Update (February 7, 2013)

The range for US spot ferrovanadium prices standard 78- to 82-percent material edged up slightly to between $14 and $14.75 per pound, from a previous range of $13.50 to $14.25 per pound, according to Metal-Pages.

Buying in the market appears healthy. Prices have generally been on the rise since December — up about 13 percent on the year so far. Price spreads are also becoming tighter and more consistent. Last year, spreads were often erratic, with ebbing buying.

Price gains for vanadium have been accompanied by growth in US steel production. Last week, however, saw a minor decline in output of about 1 percent from the previous week.

American steel output is about 6 percent lower compared to the same period last year, and has perhaps contributed to some of the week’s softness in vanadium markets.

Prices for vanadium pentoxide 98 percent also leveled for the first time in 2013. The price was unchanged from the previous week, in a range of $6.50 to $7 per pound.